On May 10, the Baku Business Center hosted a business meeting with a delegation of the Emirate of Qatar, led by the head of the Business Development Department of the State Investment Agency, Sheikh Abdulaziz Ali al-Thani.
The Ministry of Economy held a presentation of the State Investment Company and Sumgait Chemical and Industrial Park. The Azerbaijani government is trying to attract investment to the non-oil economy via these two structures.
Note that investment activity between the two countries is not high. Foreign trade turnover between Azerbaijan and Qatar did not exceed US $ 0.5 million in 2014-2015 (according to the State Customs Committee of Azerbaijan). ------08D
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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