Today Baku held an Azerbaijan-Italian business forum, which was attended by over 100 representatives of business, as well as diplomats from both sides, which is a show of interest in the development of trade and economic relations at the state level.
Azerbaijani Ambassador to Rome Vagif Sahygov and Italian Ambassador to Baku Mario Baldin urged entrepreneurs to mutual investment and expanding trade and economic cooperation.
The forum signed memorandums of cooperation between the Fund to Promote Exports and Investment in Azerbaijan (AZPROMO), National Confederation of Entrepreneurs (Employers) of Azerbaijan and the Italian-Azerbaijani trade institution, as well as the Azerbaijani company ASPI Holding and the Italian Usque ad Finem. - 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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