Baku to Host Business Forum with Participation of Businessmen from United Arab Emirates
Next week a new business mission from the United Arab Emirates will arrive in Baku. They are interested in establishing cooperation with their Azerbaijani counterparts.
According to the Foundation for Export and Investment Promotion in Azerbaijan (AZPROMO), on October 20 the Fairmont Baku will hold a business forum with the participation of over 20 companies from the United Arab Emirates. Arab companies are involved in perfumes, pharmaceuticals, packaging, logistics, tourism, food industry, agriculture, construction, fire safety systems, etc.
According to the State Customs Committee, the first eight months of this year the trade turnover between Azerbaijan and the UAE amounted to 55.6 million US dollars, which is 35.2% more than in the comparable period of 2015. Imports from the United Arab Emirates ($ 48.2 million) exceed the export of Azerbaijani goods ($ 7.4 million) 6.5 times. ----08B
Economics
-
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.
-
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.
-
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.
-
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.
Leave a review