28 August in Baku at the Ministry of Economic Development an agreement was signed on economic cooperation between Azerbaijan and the Government of the Republic of Korea.
The document was signed by Minister of Economic Development Shahin Mustafayev and South Korean Ambassador to Baku Lee Ji Ha.
The press service of the Ministry of Economic Development told Turan the agreement provides for the establishment of the intergovernmental commission, as well as the expansion of bilateral ties in the fields of agriculture and fisheries, energy and mining, ICT, science and technology, tourism, transport and the environment.
In 2011, the trade turnover between Azerbaijan and the Republic of Korea rose by 72.5%, and January-July 2012 - 25%. - 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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