The IV Baku session of the joint intergovernmental commission for trade and economic cooperation between Azerbaijan and Serbia has been completed. As the result, a protocol was signed between the Minister of Economy and Industry of Republic of Azerbaijan Shahin Mustafayev and the Serbian Deputy Prime Minister, Minister of Trade, Tourism and Telecommunications Rasim Liaich.
The document envisages the continuation of cooperation in the fields of industry, investment, finance, trade, transport, energy, agriculture, ICT, health, youth and sports.
Mustafayev said the bilateral legal base includes more than 30 documents and allows the sides to develop a relationship without any restrictions and problems. As an example, he spoke about the construction of roads in Serbia, for which Azerbaijan provided a loan of $ 308 million Euros in 2012 for a period of 25 years with a three-year grace period at an annual rate of 4% per annum.
Recall, these funds finance the construction of sections of Motorway E-763 - Lzig-Bolzhkovci, Bolzhkovci-Takovo and Takovo-Prelzina. --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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