Today the Parliamentary Committee for Economic Policy, Enterprise and Industry sent to refine the text of the draft law "On anti-dumping, countervailing and safeguard measures," although previously (12 February), the Milli Majlis adopted it in the first reading.
According to the Committee head Ziyad Samadzade, the text is very difficult to understand, and MP Ali Masimli does believe the development of such documents should coordinate the efforts of several ministries and departments, not relying solely on the experts of the Ministry of Economy. "This document contains, in addition to economic issues, customs, judicial and legal aspects. So relevant bodies should be involved to work on it for a substantial improvement," he said, referring to the importance of the timely support of local businesses.
In addition, according to the panelists, the bill is quite ambiguous, contains many contradictions that can lead after its adoption to the development of protectionism, which have a negative impact on the industry.
According to the Chief of the State Customs Committee of Azerbaijan Mirgasim Vahabov, the agency he represents made recommendations of the authors in the field of protection of the interests of local producers to import and export, which however, were not included.
Key provisions of the bill provide for the identification of dumping facts, including facts of increasing the size of the customs duty on the import of products in the amount of the dumping margin. --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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