Today kicked off a four-day 21st Azerbaijan International Construction Exhibition Baku Build-2015. The event opened with the support of the Ministry of Economy and Industry, the State Committee for Urban Planning and Architecture, the National Confederation of Entrepreneurs and the Fund Export and Investment Promotion (Azpromo). It also anticipates Caspian Construction Week. The organizers are the British company ITE Group and its partner Iteca Caspian.
The current exhibition shows more than 500 companies in the pavilions of Baku Expo Center, as well as its spacious outdoor area. The national stand can be proud of 5 permanent members: Germany, Italy, Iran, Spain, UAE, and the debutant Czech Republic and India. Quite large areas are traditionally reserved by participants from Turkey.
The range of products of all kinds of building materials has been expanded, including the European know-how elite plumbing and building glass. There will be presented new items that have not yet entered the world market. Among them, there are high-quality faucets for bathrooms, modular coating of polypropylene for open areas, innovative elevators without machine room, protective and colorants for wood, cement and coatings of the new generation, and other products. --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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