Belgian representative office of SOCAR (State Oil Company of Azerbaijan) has been registered in the Transparency Registry, which was created and operated by the European Parliament and the European Commission.
According to the representative office of SOCAR, the registry will allow the EU citizens to collect accurate and unbiased information on the state oil company, including the company's interests, policies, and invested resources.
Registration of SOCAR in the Transparency Registry and full compliance with the Code of Conduct is an indicator of social responsibility of the company.
Thus, the State Oil Company adopts the rules of the EU and in a transparent manner creates relationship with the EU institutions.
SOCAR’s registration will allow to make public the company's participation in the processes of the EU, and create a special opportunity to bring to a wider audience their interests and goals.
Participation in the registry will provide SOCAR’s cooperation with the European Parliament and the European Commission, according to the representative office of SOCAR.—0-
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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