For the nine months of 2012 on the Silk Road on the territory of Azerbaijan up to 42.1 million tons of freight was forwarded. Of these, 11.7 million tons or 27.8% accounted for the transit of goods transported by the Azerbaijan section of Corridor TransEvropa-Caucasus-Asia (TRACECA). Transit of goods along the TRACECA corridor decreased compared to the same period in 2011 by 4.1%, the State Statistics Committee told Turan.
Taking into account the local traffic, the freight traffic on the corridor grew by 5.4%.
According to the Committee, the activities of the corridor TRACECA brought an income of 318,6 million manat to the cargo carriers, which is 19% more than in the same period of 2011. 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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