A representative office of the company British American Tobacco Exports B.V. (Netherlands) has opened in Baku.
According to the Ministry of Taxes, the representative office is located at 43 Mammad Araz Street. It is governed by Kakhaber Benidze, who also heads the Azerbaijani representation of company B.A.T (U.K. and Export) Limited. The representation of B.A.T (U.K. and Export) Limited has been acting in Baku since 1998.
Kakhaber Benidze is also the General Manager of British American Tobacco in the Caucasus and Moldova.
Azerbaijan sells several cigarette brands of BAT. The official distributor of these cigarettes is LLC Crocus ltd. According to unofficial information, this company belongs to one of the members of the Azerbaijani Parliament. -----08B
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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