Today Baku completes a two-day international seminar on "Simplification of the regional transit trade."
The Deputy Chairman of the State Customs Committee of Azerbaijan Asker Abdullayev spoke about the events on the simplification of customs procedures in the country, as well as the beginning of the application of the Green Corridor system, which, according to him, will increase Azerbaijan's importance in freight on international routes North-South and East -West.
The seminar heard reports on the simplification of customs procedures for transit freight traffic and discussed a study on transit flows as well as the issues of improvement of legislation and regulatory mechanisms in this area.
The seminar was organized within the framework of the Central Asia Regional Economic Cooperation (CAREC) of Asian Development Bank (ADB). It was attended by representatives of the customs authorities of Afghanistan, Georgia, Kazakhstan, Mongolia, Kyrgyzstan, Pakistan, China, Tajikistan and Uzbekistan, as well as the Federation of Carrier and Forwarder Associations of CAREC countries. -----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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