During a visit to Qatar, a delegation from the Ministry of Economic Development, for the first time, put forward a proposal to establish a joint investment fund to finance projects in two and third countries.
The Ministry of Economic Development Press Service said that the idea was received with interest.
In particular, Qataris were invited to invest in the private sector and the development of industrial parks in Azerbaijan. They discussed issues of cooperation in infrastructure, tourism, agriculture, education, science and technology.
Mustafayev, the Minister of Economic Development, heads the delegation which includes representatives from the Fund to Promote Exports and Investments in Azerbaijan (AZPROMO), the state-run Azerbaijan Investment Company (AIC), and two newly created industrial parks (Sumgait chemical industrial park and the High-Tech Park).
The delegation was received by the Prime Minister and Foreign Minister of Qatar, Hamid bin Jassim bin Jaber Al Thani and members of the Government.
The Azerbaijani leadership has long courted Qatari sheikhs. Late last year, Hamid Al-Thani, accompanied by a large retinue of his court, shot game in the hunting estate Mahmudchala in the Salyan district of Azerbaijan for rare birds. It seems understanding between the leaderships is improving. In October 2012, at the request of official Baku, Vodafone Qatar canceled the roaming agreement with actions in the occupied territories of Azerbaijan Armenian Karabakh Telekom.
A foundation for close cooperation provides a general value approach within the parties. According to the report from the research firm The Economist Intelligence Unit (analytical division of the British magazine Economist) “Democracy Index of the world in 2012" (Democracy Index 2012), Qatar and Azerbaijan neighbors are on the list of authoritarian regimes. Azerbaijan is just one-step ahead of Qatar on the degree of authoritarianism. The countries are respectively No 139 and No 138 on the list. -0 -
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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