Today's plenary session of Milli Majlis ratified an intergovernmental agreement on the coordination of railways of Azerbaijan and Iran.
According to the chairman of the Parliamentary Committee on Economic Policy, Enterprise and Industry Ziyad Samadzade, the document will accelerate the work on the bilateral cooperation and within the North-South project in the railway transport sector.
The agreement provides for the construction of a railway from Astara, Azerbaijan to the border with Iran, with the length of 8.3 km, the completion of the road Qazvin-Rasht in Iran, as well as the construction of the Rasht-Astara road (164 km).
In addition, cargo handling terminals and border crossings will be built in both states, and the very same section of the railway Astara - Astara will be given to the mutual use
Moreover, the conditions will be created for the transport of goods and passengers along the route Baku-Astara-Rasht-Qazvin-Tabriz-Julfa-Nakhchivan, organized by the movement of the passenger route from Nakhchivan to Mashhad via Julfa, Tabriz and Tehran.
At the meeting, the parliamentarians also adopted in the final reading the draft laws On Agricultural Cooperation and On Science. According to the chairman of the Agrarian Policy Committee Eldar Ibrahimov, co-operation of small and medium-sized businesses in particular will greatly benefit the development of agricultural industry. --17D-
Economics
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On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
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Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
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Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
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Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
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