The Foundation for Export and Investment Promotion in Azerbaijan (AZPROMO) established a representative office in Italy, whose head is Tural Rustam Oglu Mammadov.
Mamedov is involved in private business (IT, food industry, etc.) in one of the cities of Italy.
The function of representation includes networking with Italian companies, finding opportunities to export Azerbaijani products to Italy, as well as attracting the leading investment funds to Azerbaijan's economy.
AZPROMO representative offices operate in Kazakhstan, Georgia, Germany, Austria and China. Previously established, but thereafter ceased operations offices in the USA, the UAE and the UK.
Today Baku Business Center hosted a business forum attended by about 140 representatives of companies from different sectors of the economy. -----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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