Ganja Automobile Plant (GaAZ) plans to expand its production capacity. To this end, it has recently signed a memorandum with the Minsk Automobile Plant (MAZ) and a license agreement with JSC KamAZ (Russia).
According to the press service of GaAZ, during the visit of Director General of MAZ Dmitry Katerinich to Azerbaijan the sides signed a memorandum of cooperation, providing for the opening of centers for sales and service, and selling the output to third countries.
Ganja was also visited by the General Director of JSC KamAZ Sergey Kogoghin, which in general was satisfied with the condition of assembly of trucks at the plant.
In 2014, Azerbaijan collected 284 units of trucks (+ 15%) and 1,265 tractors (+ 71%).
The average salary of automakers in Azerbaijan is 291.2 manat per month, which is 2.4 times less than the average in the industry in 2014. ----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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