ACCA and British Chamber push sustainability reporting dialogue in Azerbaijan [PHOTOS]

On 4 November 2026, the British Chamber of Commerce Azerbaijan (BCCA) Sustainability and Energy Committee and the Association of Chartered Certified Accountants (ACCA) jointly hosted a panel discussion titled ‘Sustainability Reporting in Azerbaijan: Tracking Progress and Building Readiness’.

The event eplored the current state of sustainability reporting in Azerbaijan, the practical challenges companies face, and opportunities for further development. Participants echanged views on how sustainability information is prepared and used to support better decision-making.

Opening remarks were delivered by Kanan Ahmadzada, BCCA Sustainability and Energy Committee Leader, and Firuza Abdullayeva, Head of the Accounting Policy Department of the Ministry of Finance of Azerbaijan. They highlighted the importance of collaboration and sharing eperience across different stakeholders and sectors to advance sustainability reporting.

The event also featured a presentation of the key findings from ACCA’s global research on sustainability reporting, which eamines how prepared organisations are to create and use sustainability information.

Gaukhar Ashirbekova, the Public Affairs Lead for Eurasia at ACCA, said: ‘This is our first joint event on sustainability reporting in Azerbaijan with the British Chamber of Commerce in Azerbaijan, and we hope it will mark the beginning of a broader dialogue on the sustainability agenda across the business community, public sector and professional bodies.

The presentation was followed by a panel discussion moderated by Gaukhar Ashirbekova, with contributions from Goshgar Ahmadov, Deputy Chair of the Chamber of Auditors of the Republic of Azerbaijan; Ali Ahmadzada, Economist at the Central Bank of the Republic of Azerbaijan; Zeynab Gadirova, Lead Specialist in the ESG Standards Implementation Division at SOCAR; Gunay Asgarova, Director for Broader Assurance Services at PwC Azerbaijan; and Samra Talishinskaya-Abbasova, Sustainability Manager at Unibank.

The panellists discussed the development of sustainability reporting, how companies can strengthen their readiness, and eperiences from different sectors. The event continued with a question-and-answer session.

BCCA is a non-profit organisation that promotes the development of economic ties, business relationships and mutual investment between the United Kingdom and Azerbaijan. Its Sustainability and Energy Committee supports the development of sustainable business practices and energy transition initiatives.

ACCA is the only truly global professional accountancy body. Since it was founded in 1904, ACCA has breaking down barriers to the accountancy profession. Today, ACCA proudly supports a diverse community of over 266,100 members and 546,500 future members in 179 countries.

Central Bank of Azerbaijan to keep inflation control as main monetary policy goal in 2027

The Central Bank of Azerbaijan (CBA) will continue to prioritise keeping inflation within its target range as the main objective of its monetary policy in 2027.

CBA Governor Taleh Kazimov made the remarks during a meeting of the Milli Majlis Committee on Economic Policy, Industry and Entrepreneurship, where lawmakers discussed the draft law on the state budget of the Republic of Azerbaijan for 2027.

Kazimov said price stability would continue to provide the foundation for balanced and sustainable economic growth.

‘Monetary policy will continue to be implemented within the framework of the eisting regime net year. Echange rate stability will remain the main anchor of price stability in 2027. A surplus in the current account of the balance of payments will continue to support equilibrium in the foreign echange market net year,’ he said.

The CBA Governor noted that short-term interest rates in the money market would remain an auiliary operational target of monetary policy in 2027.

He added that the Central Bank would make adequate and fleible use of its eisting instruments to ensure that short-term money market rates remain within the interest rate corridor. Measures to strengthen the interest rate channel in monetary policy transmission would also continue.

Kazimov further emphasised that monetary policy would remain coordinated with macroprudential policy and other areas of the Central Bank’s activities.

According to him, deeper financial sector development and stronger financial stability would have a positive impact on the effectiveness of monetary policy transmission.

Information minister, British envoy discuss misinformation ahead of 2027 polls

The Minister of Information and National Orientation, Idris Mohammad, has met with the new British High Commissioner to Nigeria, Peter Vowles, to discuss strengthening bilateral relations, improving public communication and addressing the growing threat of fake news and misinformation ahead of the forthcoming general elections.

Mohammad, in a statement on his X handle, said the British envoy paid him a courtesy visit, during which both sides explored areas of cooperation to tackle shared information challenges and promote responsible communication.

He described the growing spread of fake news and misinformation, particularly as the country approaches another election cycle, as a major concern requiring sustained attention and collaboration with international partners.

According to him, the growing circulation of misleading information challenges public understanding and could undermine confidence in the electoral process if not properly addressed.

The minister stressed the need for stronger partnerships with countries such as the United Kingdom to promote accurate information, responsible communication and public awareness.

He noted that tackling misinformation should not be left to one institution or country alone, given the growing influence of digital platforms and how quickly unverified information spreads.

The discussions also focused on strengthening UK-Nigeria relations through improved public communication and identifying practical areas where both countries could work together to address emerging information-related challenges.

Mohammad said cooperation with international partners would remain important in promoting responsible information management and ensuring that citizens have access to credible information, especially during the election period.

He added that Nigeria would continue to work with the United Kingdom and other partners to safeguard the integrity of the electoral process and encourage a more responsible information environment.

The visit comes as political activities gradually build towards the next general elections, placing renewed attention on the role of credible information, effective public communication and cooperation among relevant stakeholders in protecting the democratic process.

Aghdam’s industrial revival looks promising for Azerbaijan’s non-oil economy

The expansion of manufacturing in the Aghdam Industrial Park illustrates how investment in liberated territories can support employment, strengthen domestic production and introduce Azerbaijani goods to international markets. The production of specialist safety footwear and polyurethane boots links the rebuilding of Karabakh with the country’s ambition to develop a competitive non-oil economy.

The enterprise operating across 2.5 hectares in the industrial park manufactures protective footwear for industrial and working environments. Its products serve the domestic market and reach customers abroad, giving the facility a role in export development. Supplying these sectors creates opportunities for local industrial capabilities, skilled employment and stronger links between manufacturers and business customers.

The company’s disclosed export activity points to a growing international reach. In Kazakhstan, it has signed agreements with three companies and completed deliveries at different times. Further orders from the Central Asian market are under consideration, creating scope for deeper commercial relations. In Albania, an agreement with a local distributor envisages an initial shipment of 1,200 pairs of products, including natural-leather safety shoes with polyurethane soles and polyurethane boots. The order covers footwear in O4 and S5 safety classes and is ready for export.

The Canadian market adds another significant dimension. A Canadian company has ordered more than 3,500 pairs of polyurethane boots, with shipment planned for the following month. Italy represents a further European opportunity: negotiations on a cooperation agreement are continuing, initial orders have arrived, and the planned November shipment covers 1,200 pairs of polyurethane boots under the Made in Azerbaijan label. Interest from the United Arab Emirates and Jordan also creates prospects for additional market development.

The three quantified orders for Albania, Canada and Italy together account for more than 5,900 pairs. This figure provides a useful snapshot of the scale of the announced business pipeline, while Kazakhstan’s deliveries and potential new orders add another established export channel. Interest from the Gulf and the Middle East broadens the potential geography further.

For Azerbaijan, the significance of such projects extends beyond individual sales contracts. A manufacturer based in Aghdam contributes to the revival of economic activity across liberated territories and demonstrates how industrial infrastructure can support the next stage of regional development. Every operating facility creates demand for workers, transport, maintenance, packaging, utilities, suppliers and business services. As production expands, these connections can generate employment across a wider local economic network, supporting household incomes and strengthening the commercial life of surrounding communities.

The employment effect extends beyond the factory floor. Production requires operators, technicians, quality specialists, warehouse staff and managers, while shipments create work for drivers, freight forwarders and customs services. Training workers for these roles can build skills and support career paths. As suppliers and service providers respond to the factory’s needs, an industrial investment can stimulate economic activity across the region.

Industrial parks can bring together land, infrastructure, utilities and investor support in a planned environment, helping businesses establish operations and build supply relationships. In Aghdam, this model is particularly important because manufacturing can complement reconstruction in housing, roads, public services and agriculture. New jobs give residents opportunities to participate directly in the region’s economic recovery, while demand for local services can encourage further entrepreneurship.

Export growth also adds value to the national diversification agenda. International orders help manufacturers test their products against demanding customer requirements, improve production processes and build commercial credibility. The Made in Azerbaijan label gives overseas buyers a clear national identity for locally manufactured goods. Success in specialised footwear can also encourage the development of related activities, including materials processing, moulding, design, quality control, logistics and technical services.

The next stage of this progress will depend on production capacity, consistent quality, certification, competitive pricing and reliable delivery. The announced orders already provide a concrete indication of international demand and a foundation for future expansion.

Aghdam’s emerging manufacturing base shows how regional reconstruction and export-oriented industrialisation can reinforce one another. By turning investment into production, jobs and overseas sales, Azerbaijan can broaden the foundations of economic growth and strengthen the role of liberated territories in its national development. The journey from a 2.5-hectare industrial site to customers across several regions captures an important ambition: building a diversified economy whose products carry Azerbaijani value into global markets.

Court freezes accounts, crypto assets over Sh1.5bn Equity Bank heist

The High Court has allowed Equity Bank to freeze accounts belonging to four individuals and five companies accused of receiving part of Sh1.5 billion allegedly siphoned from the lender through fraudulent salary-disguised transactions two years ago.

The court capped the frozen assets at a combined Sh303.2 million, against the Sh1.5 billion allegedly stolen with the help of a former bank manager.

The judge found that Equity had established a strong case against the defendants, who include a former salary-processing manager, businesspeople and company directors, as well as five companies allegedly linked to the diversion.

The court froze accounts held at UBA, Absa, NCBA, Stanbic and Co-operative Bank, as well as cryptocurrency holdings linked to three defendants: David Machiri Kimani, Owen Karanja Kuguru and Ruth Muthoni Kamau.

The dispute concerns Sh1.49 billion allegedly diverted from Equity’s salary-processing general ledger between November 2023 and June 2024.

The bank says its then Manager-Salary Processing, Mr Kimani, used his authorised access to transfer the money to third-party accounts, with some of the funds later allegedly converted into cryptocurrency.

Equity told the court that the defendants – Mr Kimani, Mr Kuguru, Ms Kamau, KT Owen Group Limited, Axteron Technologies Ltd, Mac and Gray Trading Ltd, Blue Kenfresh Ltd, Goodmans Fresh Ltd and Muda Ventures Limited – colluded to defraud it.

The bank claimed that ‘those companies were incorporated specifically for that purpose’.

Equity processes salaries for corporate clients using employee details, salary amounts and funds supplied by employers. The bank alleges that Mr Kimani exploited his access to the ledger to initiate transfers unrelated to genuine salary payments.

The money was allegedly channelled through various third-party accounts before being moved to other entities or converted into cryptocurrency held by some of the defendants.

The judge cited SWIFT messages identifying Equity’s code, EQBLKENAXXX, as the sending institution and the bank’s general ledger as the source of the funds. The transfers were made using Mr Kimani’s assigned computer and user ID.

Equity argued that the transaction trail and links among recipient companies pointed to a coordinated scheme and created a risk that the assets could be dissipated, particularly because cryptocurrency can be transferred quickly. It sought orders freezing the assets and converting the digital holdings into ordinary currency.

Mr Kimani’s father, Joseph Kimani Machiri, filed an affidavit describing himself as his son’s guardian. He denied that Mr Kimani owned cryptocurrency accounts or authorised the transactions, and challenged the bank’s calculations.

Mr Kuguru said companies linked to him, Axteron Technologies Ltd and Mac and Gray Trading Ltd, provided trade-finance, import and shipping services.

He maintained that the payments received by the companies were legitimate client transactions and that they were unaware the money allegedly originated from Equity. He said the two companies charged commissions of five percent on client engagements.

Ms Kamau, identified as the owner of Blue Kenfresh and Goodmans Fresh, challenged Equity’s use of confidential banking and personal information in seeking the freeze orders. She argued that the information had been obtained unlawfully in breach of an earlier court order.

The High Court dismissed her application, finding that her lawyer had sworn an affidavit on contested matters.

The judge said an advocate should not act as both counsel and witness, describing the affidavit as hearsay. However, the judge left the legality of the disputed personal and banking information for determination at the full trial, when Ms Kamau may raise the issue again.

He also declined to grant further tracing and accounting orders, saying these would risk assuming liability before the case had been heard.

‘The plaintiff has demonstrated a right that strongly appears to have been infringed by the defendants so as to call for an explanation or rebuttal,’ the judge said. ‘I am not saying that the plaintiff will obviously succeed at the full trial,’ he added.

The court ordered the freezing of accounts belonging to Axteron, KT Owen Group, Mac and Gray Trading, Blue Kenfresh, Goodmans Fresh and Muda Ventures, subject to individual limits that add up to Sh303.2 million. It also froze digital assets held for Mr Kimani, Mr Kuguru and Ms Kamau on Binance or other cryptocurrency platforms.

The individual limits include Sh156.2 million for Axteron accounts at UBA and Absa, Sh30.8 million for KT Owen Group’s NCBA account and Sh14 million for Mac and Gray Trading’s accounts at Stanbic and Co-operative Bank.

Blue Kenfresh’s Co-operative Bank account was capped at Sh32.8 million, while Goodmans Fresh’s account at the same bank was limited to Sh24.2 million. Ms Kamau’s NCBA and Co-operative Bank accounts were capped at Sh36 million, while Muda Ventures’ UBA account was limited to Sh8.7 million.

The court also ordered identifiable cryptocurrency holdings to be converted into ordinary currency within 10 days. If the defendants fail to comply, the relevant platform operators may identify and convert the assets.

The proceeds are to be deposited in a Central Bank-licensed tier-one bank, with the Central Bank of Kenya appointed as escrow agent. The orders are intended to preserve the identified assets pending the determination of Equity’s recovery suit.

Following the alleged fraud, Equity initially dismissed about 195 employees after an internal review identified suspicious transactions through staff bank and mobile-money accounts. More than 40 transactions had been executed using the manager’s credentials.

Dmitry Krymov’s ‘Bloody Mary’ captivates Baku audiences at BIAF [PHOTOS]

The Israeli theatre company Gesher, based in Tel Aviv, presented its production of ‘Bloody Mary’ at the Azerbaijan State Academic Musical Theatre as part of the Baku International Arts Festival (BIAF). Directed by Dmitry Krymov, one of the most influential theatre directors of his generation, the production was staged for Baku audiences on November 1 and 2.

The visit of the renowned Israeli theatre company was one of the highlights of the festival programme, which brought together diverse artistic traditions, theatrical languages and contemporary interpretations of world classics.

‘Bloody Mary’ premiered in June 2026. Inspired by Friedrich Schiller’s famous tragedy ‘Mary Stuart,’ the production goes far beyond a conventional stage adaptation or literal interpretation of the literary work. Krymov creates an independent theatrical universe in which fragments of the classical narrative intertwine with contemporary reality, personal and collective memory, grotesque imagery and absurdity.

The action begins in an emergency department, where people from different eras and worlds encounter one another. Among them are two actresses preparing to portray Mary Stuart. As the story unfolds, the boundaries between reality and theatrical space gradually disappear, giving the familiar themes of power, jealousy, rivalry and eecution an unepected contemporary dimension.

At the heart of the production are two queens: Elizabeth, portrayed by Israel (Sasha) Demidov, and Mary Stuart, played by Evgenia Dodina. Rather than conventional historical representations, the characters emerge as symbolic, grotesque and almost circus-like figures. Yet beneath their masks and theatrical performances, deeply human emotions and personal struggles gradually come to the surface.

Comedy and tragedy coeist throughout the production, while black humour meets confessional sincerity and theatrical illusion unepectedly transforms into an intensely vivid reality.

In addition to Demidov and Dodina, the cast includes Polina Pakhomova, Nikita Goldman, Nikita Oleinikov, Ruth Senderovich, Itay Tarkhanov and Boris Repetur.

During a meeting with journalists, the leading actors discussed their eperience of working on the production, Krymov’s distinctive directing style and their participation in BIAF.

Israel (Sasha) Demidov, who portrays Queen Elizabeth, described his collaboration with the director as a unique creative eperience.

‘Working with Dmitry Krymov is, I think, like eperiencing magic. Magic in terms of his method, energy and ability to transform material. He radiates a special personal energy that a good actor immediately senses. Creative ideas begin to emerge from it, and interesting concepts and unepected solutions are born,’ the actor said.

According to Demidov, the production involves numerous challenges and unusual artistic demands, but these very difficulties serve as a springboard for discovering new forms of theatrical epression.

One aspect that particularly attracted journalists’ attention was Krymov’s decision to cast a man in the role of a female character. Asked about this choice, Demidov said that he was already familiar with this kind of theatrical eperience.

‘I am actually a specialist in women’s roles. I once played Desdemona, as well as an actor performing female roles. It is very interesting. But I want everyone to know that I am a man,’ Demidov remarked with humour.

Speaking about Baku, the actor said that he was already familiar with the Azerbaijani capital. A year earlier, he had visited the city with the production of ‘Anna Karenina,’ in which he played Karenin.

‘Baku is some kind of oasis, a free space where I see many different and interesting energies and an incredibly rich and comple spirit,’ he said, also highlighting the importance of the international festival.

Evgenia Dodina, who plays Mary Stuart, emphasized that the most fascinating aspect of the production was the opportunity to work with Krymov’s distinctive artistic vision.

‘The most interesting part of this production for me was working with Dmitry Krymov. I always have some idea of how everything will begin, but I have absolutely no idea how it will end. Because this is true authorial theatre in the fullest sense of the word,’ the actress said.

According to Dodina, Krymov does not simply transfer a classical work to the stage. Instead, he enters into a dialogue with it, sometimes even challenging it through a fierce artistic confrontation.

‘He takes classical material and does not simply illustrate it. He enters into a dialogue with it, sometimes even a passionate argument. He always incorporates the reality surrounding us into his productions, filtering it through his own artistic vision. The creative journey he takes us on is incredibly captivating,’ Dodina noted.

The actress also revealed that ‘Bloody Mary’ was her first collaboration with Dmitry Krymov, epressing hope that they would work together again in the future.

Asked about her onstage interaction with Demidov, who portrays Queen Elizabeth, Dodina stressed that theatre has no conventional limitations when it comes to casting and character roles.

‘This is theatre, and anything is possible in theatre. I have played children, animals and men. I could probably even play an alien if I knew what they were like. Theatre has no limits,’ she said.

She added that the production’s artistic compleity lies in Krymov’s ability to bring seemingly incompatible elements together and transform them into a unified theatrical world.

The artists’ impressions of the Azerbaijani capital formed another important part of the meeting with journalists.

For Evgenia Dodina, the visit marked her first encounter with Baku. Despite her busy touring schedule, she managed to eplore parts of the city and form her own impressions.

‘I have a feeling of grandeur. Everything here is epansive, including people’s mentality. It is very beautiful, the people are pleasant and polite, and there is wonderful energy. That is the impression I have,’ she said.

Speaking about the atmosphere of BIAF, Dodina described it as festive, noting that the city itself seemed to reflect the spirit of the festival.

The actress also discussed the emotions she hoped audiences would take away from ‘Bloody Mary.’

In her view, the production does not offer ready-made answers, as every audience member enters the theatre with their own eperiences, concerns and questions.

‘I would like everyone to find an answer to whatever is troubling them. The production touches on many different themes, and everyone can discover something of their own in it. I would like people to leave the theatre and smile or eclaim, ‘A-ah!” Dodina said.

Journalists also asked about her consistently positive outlook on life. The actress acknowledged that maintaining an optimistic attitude is largely a conscious personal choice.

‘There is no other way; otherwise, we would sink into darkness. Everyone makes their own choice in life,’ she replied with a smile.

Commenting on the Baku audience, Dodina observed that its reactions differed noticeably from those of theatre-goers in Tel Aviv.

‘The audience is wonderful. It is very different from the audience in Tel Aviv. What makes people laugh in Tel Aviv is met with silence here, while things that are met with silence there make people laugh here. The reactions are different, and things resonate differently,’ she eplained.

The performances of ‘Bloody Mary’ offered Baku audiences more than an opportunity to discover a new production by Israel’s Gesher Theatre. They also demonstrated how classical literature can serve as a starting point for eploring contemporary realities.

Rather than offering a definitive interpretation of Schiller’s tragedy, Dmitry Krymov presents a multilayered theatrical eploration of human nature, power, rivalry and memory. In this artistic world, absurdity becomes a means of understanding reality, masks reveal personal identities, and laughter provides a way of approaching tragedy.

The encounter with Baku audiences demonstrated that a theatrical eperience does not end when the curtain falls. It continues through audience reactions, questions and individual interpretations.

Perhaps this is one of the defining characteristics of Krymov’s theatre: its ability to leave room for a personal and ongoing dialogue between the stage and the audience.

Iran sees new strategic threat in Trump’s South Caucasus project

On November 2nd, Armenia’s prime minister, Nikol Pashinyan, told parliament that his government would soon start commissioning designs for the railway, highway and power lines of the Trump Route for International Peace and Prosperity, or TRIPP. Parliament had voted on the ratification days earlier. Deputy prime minister Mher Grigoryan went further: delimitation of the border in Syunik, the southern province the route will cross, might be carried out in an “etraordinary” fashion, ahead of the eisting schedule, so that the infrastructure can proceed. Pashinyan’s own framing was characteristically grand. We all recognize the project’s effectiveness in ending a blockade that has lasted over 30 years.

But one neighbour was not celebrating the idea, as always. The ambassador of Iran in Yerevan, Khalil Shirgolami, said to the press that Tehran recognizes the sovereignty of Armenia but epects above all that there should not be any foreign military forces stationed on the Armenian-Iranian border, nor any threat of Iran coming out of it. Armenian authorities have assured him. However, Tehran seems to need more than assurances.

The shortest border, with the longest worry

The Armenia-Iran border spans just 44km, following the Aras River in the Syunik region. The border is the shortest land border of Iran, and as described by its strategists, is its lifeline to the north – the only direct passage to the South Caucasus, Russia, and further on to Europe. The goods pass across the border checkpoint of Agarak and Norduz, and there have been improvements made in their bridge capacities. Armenia and Iran traded approimately $104.8 million worth of goods in the first two months of 2026, an increase of 6% from the previous year.

It is clear for Tehran that this is more than an issue with lines in maps. TRIPP is a highway and railway that is going to pass close to the Iranian border and will be run by Americans in great numbers; the ambassador has cited plans according to which American companies are to have 74 percent share in management of the corridor. For Iranian strategists, this situation is nothing less than encirclement, despite all assurances of its non-military nature. It is all made worse by the war; the United States and Israel have launched attacks on Iran since February, and Mr Shirgolami has cited them while elaborating his point of view. Well in that point of view, it could easily be said that, perhaps, as tensions around the Strait of Hormuz continue, Iran views the South Caucasus as the net chokepoint.

This ambition appears to be more limited than obstruction. Iran is not interested in obstructing the route but in shaping it. He mentioned that technical details are being discussed and that the central issue is the modalities that can ensure that TRIPP is implemented in such a way that guarantees Armenian sovereignty, does not allow for any corridor outside Armenia, and ecludes the use of foreign military. He even proposed a special format of negotiations with Yerevan that will make it possible to settle any dispute quickly. In September, he indicated that the best option to address US concerns was an institutional mechanism. According to President Masoud Pezeshkian, who reportedly spoke to Pashinyan in July, “etra-regional powers” should not meddle in Armenian-Iranian affairs.

The tone has varied. A hardline adviser to the Supreme Leader, Ali Akbar Velayati, said last year that the route would become a “graveyard” for Trump’s “mercenaries”. The ambassador’s language is gentler, but the aim is the same: to etract, from Armenia, binding rules that outlast political promises. That is a sensible negotiating position. Iran cannot veto the project, and it cannot afford to alienate a government with a fresh electoral mandate. Its leverage lies in being the neighbour Armenia cannot ignore.

Lines and contest of the maps

Where Tehran’s concerns seem to cross into overreach is on delimitation. As presented by Baku in Azerbaijani commentary, the reason delimiting the Armenian-Azerbaijani border is of no consequence for the Armenian-Iranian border. Delimitation is a legal eercise and an effort to delineate a pre-eisting boundary between two states. The sequence of actions follows a north-south line and comes to a stop at the point of connection between the Armenian-Azerbaijani and Iranian borders. It involves no changes to land ownership and poses no threat to anyone. On the contrary, the eercise helps reduce uncertainty for all parties involved.

This eplanation is valid, as far as it goes; however, it does not resolve the political concern raised by Mher Grigoryan. Linking the delimitation with the construction of TRIPP and increasing the pace at which it is conducted imbues this process with new political dimensions. First of all, the pipeline goes through the border area and, therefore, the regulatory mechanism behind it, including security measures, becomes important for many years to come. Baku can insist on the irrationality of the fear of delimitation by Tehran and still recognize the need to address the project net to it.

Every party has a reason to be wary. For Azerbaijan and Trkiye, it is the constant connection between the mainland and Nakhchivan, and through Anatolia. For Armenia, it is the chance to leave the isolation zone and receive additional routes for trade and transportation. For the US, it is the possibility of having a strong influence in the region it has long neglected. For Iran, its role as a transit gateway to the south in the region and its Aras corridor, which would also connect Azerbaijan with Nakhchivan, would become weaker.

Whether TRIPP brings peace or ignites fire in the South Caucasus depends on how these interests can be reconciled. But the way to achieve this is clear: adopt the rules for implementation of the project, make it impossible for foreign countries to deploy their military forces within the region by writing it down in the documents of the project, and establish the permanent consultation channel between Armenia and Iran that Tehran asks for. It is not a costly option; however, viewing Yerevan as a sort of tributary state or third-degree country will not resolve anything, as this aniety persists. The alternative, a road built over an ally’s objections, in a region where a larger war is already burning, costs a good deal more.

Azerbaijan, Jordan discuss new flights and simplified visa procedures to boost tourism

Azerbaijan and Jordan have discussed expanding air connectivity, simplifying visa procedures and strengthening bilateral tourism cooperation, according to Azerbaijan’s State Tourism Agency.

The discussions took place during a visit to Amman, where the Azerbaijan Tourism Board (ATB), operating under the State Tourism Agency, organised the “Experience Azerbaijan B2B Networking Event” on November 2.

The event brought together 66 tourism industry representatives from 48 companies, aiming to promote Azerbaijan as a travel destination and strengthen business relations between tourism companies in the two countries.

Florian Sengstschmid, Chairman of the Azerbaijan Tourism Board, and Shahin Abdullayev, Azerbaijan’s Ambassador to Jordan, attended the gathering.

During the event, participants were introduced to Azerbaijan’s year-round tourism opportunities, including destinations such as Baku, Gabala, Guba, Gusar and Sheki.

Presentations highlighted the country’s potential for family holidays, luxury tourism, nature and adventure travel, winter recreation, cultural tourism, gastronomy, wellness and halal-friendly tourism services.

Business-to-business meetings were also organised between representatives of three Azerbaijani companies, including Azerbaijan Airlines (AZAL), and tourism industry representatives from Jordan.

The meetings focused on identifying potential areas of cooperation, establishing direct business contacts and exploring new commercial opportunities in the tourism sector.

As part of the visit, Sengstschmid held a separate meeting with Ramzi Al-Maaytah, Chief Executive Officer of the Jordan Tourism Board.

The two officials discussed existing air services between Azerbaijan and Jordan, opportunities to simplify visa procedures and the possibility of establishing additional flight connections.

Currently, air connectivity between the two countries is supported primarily by weekly charter flights operated by AZAL and Fly Jordan, particularly during the summer tourism season.

Chinese carmakers ride on sales to double Kenya market share

Chinese manufacturers more than doubled their share of Kenya’s new vehicle market in nine months to September 2026, riding on a jump in sales of trucks on increased government payments to road contractors.

Sales of Chinese brands rose 152 percent to 1,847 vehicles in the nine-month period from 733 in a similar period last year, data from the Kenya Motor Industry Association (KMI) show.

The growth was more than five times compared with 27 percent expansion in domestic showroom vehicle sales to 12,606 units from 9,924 in the corresponding period last year, with easing lending rates also helping revive demand for commercial units.

The rapid expansion lifted the share of Chinese brands in locally sold new vehicles to 14.65 percent from 7.39 percent, meaning they accounted for nearly one in every seven new vehicles purchased in Kenya.

The gains reflect an increasingly visible presence of Chinese manufacturers in a market traditionally dominated by Japanese, European and other established global vehicle brands.

Sinotruk, distributed locally by CFAO Mobility Kenya, accounted for the bulk of the expansion, with sales jumping 169.5 percent to 1,442 vehicles from 535.

The truckmaker contributed 907 of the additional 1,114 vehicles sold by Chinese brands, representing 81.4 percent of their combined sales growth.

This highlights the growing importance of commercial vehicles in the growing Chinese presence, with manufacturers seeking to tap demand from transporters, construction companies and businesses requiring trucks for cargo distribution.

The expansion, however, spread beyond heavy commercial vehicles, with passenger vehicle brands including BYD, Changan and Chery recording higher sales as more Chinese manufacturers establish themselves in Kenya’s showroom market.

BYD, also sold by CFAO Mobility Kenya, increased its sales to 54 vehicles from two, while Changan, represented by Inchcape Kenya, doubled deliveries to 73 from 36.

Chery Tiggo, whose deals are handled by Salvador Caetano, recorded 50 sales against none in the corresponding period last year, the KMI numbers show.

Foton, another Chinese commercial vehicle manufacturer distributed by Mobikey Truck and Bus, nearly doubled sales to 168 units from 88.

The figures suggest Chinese manufacturers are broadening their presence across different vehicle categories, rather than relying exclusively on the commercial truck segment to expand their market position.

Other brands also recorded mixed performances, with Great Wall Motors (GWM) increasing sales to 18 vehicles from eight, while JMC deliveries rose to 21 from 15. However, Haval, distributed by Crown Motors, recorded a sharp slide to four vehicles from 31, while Beiben sales dipped marginally to 17 from 18.

Despite the uneven performance among individual manufacturers, the combined figures show Chinese brands gaining ground considerably faster than the wider market.

Their expansion comes as competition in Kenya’s vehicle market increasingly revolves around purchase prices, vehicle specifications, financing options and the availability of spare parts and after-sales support.

The growing presence of Chinese manufacturers highlights the intense competitive pressure facing established distributors such as Isuzu, particularly in commercial vehicles, where acquisition costs and operating expenses drive purchasing decisions.

The passenger vehicle segment presents another potential growth frontier, particularly as manufacturers such as BYD seek to establish themselves through electric and hybrid vehicle offerings.

However, the KMI figures do not break down sales by engine technology, meaning the extent to which electric vehicles are contributing to the increase cannot be established from the available data.

The growth in purchases of Chinese vehicle brands coincided with a recovery in the showroom vehicle market, supported by renewed road construction activity and improving access to credit for businesses seeking to acquire trucks and other capital equipment.

Isuzu East Africa, the market leader, has attributed the industry’s expansion this year largely to the government’s mobilisation of Sh139 billion to settle contractors’ bills and restart stalled road projects.

“Industry performance was primarily propelled by government fiscal intervention-specifically the mobilization of Sh139 billion to clear contractor bills and restart road projects, which spurred heavy commercial vehicle demand,” Isuzu said in the KMI report for September.

The payments have eased cash-flow pressures on road contractors, some of whom had abandoned projects or faced the risk of losing vehicles and equipment financed through bank loans.

The State Department for Roads’ pending bills fell 23.5 percent to Sh98.17 billion in the financial year ended June, extending a decline from the Sh166.76 billion peak recorded in 2023/24.

The arrears declined by Sh30.19 billion in the latest financial year, following a Sh38.40 billion reduction in the previous year, according to the latest budgetary review report.

The recovery also came at a time bank borrowing costs were falling, potentially making it easier for businesses to finance trucks, delivery fleets and other vehicles used in their operations.

Central Bank of Kenya data shows the weighted average commercial lending rate fell to 14.34 percent in August 2026 from 15.17 percent a year earlier, extending a decline from the 17.22 percent peak recorded in November 2024.

The decline has potentially reduced the cost of servicing loans for businesses and individuals purchasing vehicles through bank financing and asset-finance arrangements.