In the Tovuz region on March 2, the foundation of a customs terminal facility was laid. The new terminal will be a logistics center at the Azerbaijani-Georgian border, which will contribute to the expansion of regional trade, said the Azerbaijani office of the UN Development Program (UNDP) - the coordinator of the project.
Implementation of this project is a worthy example of cooperation between UNDP, the European Union, the governments of the two countries, UNDP Resident Coordinator in Azerbaijan Gulam Iskhagzai said at the groundbreaking ceremony of the terminal complex.
“This project will help facilitate legitimate movement of goods and transfer of people via the border checkpoint Red Bridge. Its financial support contributes to the realization of one of the EU's tasks - strengthening regional trade and economic diversification,” said EU Ambassador to Azerbaijan Malena Mard.
The EU has allocated EUR 2,128,000 for the implementation of the project “Support to the development of the border checkpoint Red Bridge. ---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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