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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Last week, Azerbaijani media reported an impending increase in retail bread prices, attributing the rise to an increase in product weight. The following day, an official notification confirmed that the government had no intentions of sanctioning a bread price hike in the country. However, the threat of a price increase for this staple food remains for another reason.
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S&P Global Ratings has revised its risk assessment of Azerbaijan’s banking sector, upgrading the outlook from "stable" to "positive."
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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