Baku hosts the Azerbaijan-British business forum. The importance of the event is dictated by at least the volume of British investments in Azerbaijan's economy - since the beginning of cooperation, they have made more than $ 21 billion.
According to Deputy Minister of Economy and Industry of Azerbaijan Sahil Babayev, with these indicators UK ranks first among foreign investors, and it has provided the second largest investment in the non-oil sector of Azerbaijan - $ 1.3 billion.
"Today Azerbaijan is very interested in development of cooperation with this country in the field of petroleum engineering, and this is the main goal of the business forum. We want companies to meet and discuss more specific questions so that in the end of meetings the foundations are laid for new projects and cooperation in this sphere," he said. --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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