During a meeting in Baku, Minister of Economic Development Shahin Mustafayev with the Ambassador of Argentina in Azerbaijan Carlos Dante Riva preliminary agreement was reached to hold the first meeting of the Joint Working Group on Trade and Economic Cooperation, in December of this year. However the parties, despite the claim in December 2012 by the Parliament of Azerbaijan on agreement on trade and economic cooperation, have not yet agreed on the composition of the working group.
The press service of the Ministry of Economic Development told Turan, that the discussions also agreed to hold in December of that year the business forum with the participation of representatives of the business community.
The sides discussed the prospects of expanding cooperation in the field of agriculture, as well as networking in the fields of ICT, tourism, construction, manufacturing medicines and alternative energy.
According to the State Customs Committee of Azerbaijan, in 2012 the trade turnover between Azerbaijan and Argentina fell by 59% to $ 15 million, which is almost entirely a credit to Argentine exporters. This was mainly due to the suspension of Azerbaijan's exports. In 2012, Azerbaijan imported from Argentina fruit, cream and vegetable oils, waste from the extraction of soybeans and other products. - 08D-
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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