On September 16 a business forum opened in Baku with participation of the Presidents of Azerbaijan and the Czech Republic and businessmen of the two countries.
Speaking at the opening, Ilham Aliyev said that there is a need to coordinate the strengthening of bilateral economic relations. According to him, they discussed the participation of Czech banks in the projects in Azerbaijan and bilateral cooperation in the field of transport and energy.
According to him, last year the volume of investments in Azerbaijan totaled 27 billion USD, most of which are foreign funds.
In turn, the President of the Czech Republic Milos Zeman said that 30% of the oil purchased by the Czech Republic comes from Azerbaijan. There are all opportunities for expansion of ties and cooperation in other spheres. -02D-
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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