Azerbaijan and Iran intend to establish joint production and export to third countries, stated today in Baku Hadabaht Majid, a governor of the Iranian province of Ardebil, who is on visit to Azerbaijan. As an example, he said that Ardabil can supply potatoes in Baku, where the joint venture will make chips and export to Russia. In addition, enterprises of Ardabil can deliver in Azerbaijan various products and materials, including wood products, he said, without specifying any of the materials in question. Then he spoke about politics, saying that Iran has always supported and supports the territorial integrity of Azerbaijan. Earlier Hadabahta was received by the President Ilham Aliyev and Iranian delegation visited the city Sumgayit.-02D-
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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