An international rail business forum Strategic Partnership 1520: The Caspian Region is held in Baku.
Speaking at the forum, the Deputy Prime Minister Abid Sharifov said that so far the government has invested $ 25 billion in transport infrastructure.
According to the Chairman of CJSC Azerbaijani Railways (ADY) Javid Gurbanov, the construction time of the railway Baku-Tbilisi-Kars has been once again extended until H1 of 2017. On the Turkish section of the construction the work is still underway, and the Georgian section is mounted power supply and signaling system, which means a later date of the commissioning of the facility.
During the forum ADY signed a Memorandum of Understanding with the Ukrainian Railways, JSC Rusagrotrans and JSC TransContainer (both from Russia). In addition, there was signed a memorandum of understanding for strategic cooperation between JSC TransContainer and Corporation Dalian Port (PRC), an agreement on strategic partnership between the Federation of Transport and Logistics Companies Associations of India and JSC Russian Railways Logistics (Russian Federation), as well as a memorandum of cooperation between JSC RZDstroy (Russia) and CJSC Baku Metro. --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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