President of the Republic of Azerbaijan Ilham Aliyev has signed an order on establishment of the closed joint stock company Caspian Shipping Company of Azerbaijan in order to continue institutional reforms in the economic sphere, improve efficiency of domestic and international transportation as well as to contribute to the state’s competitiveness and transit potential, the presidential press center says.
The decree abolishes the existing Azerbaijan Caspian Shipping Company and Caspian Sea Oil Flotilla under the State Oil Company of Azerbaijan to establish the new enterprise on their basis.
The order comes into effect on the date it was signed.
According to the other order, Rauf Geyush oglu Veliyev is to chair the company.
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