On December 10 in Washington D.C., a briefing will be held on the "Trans-Caspian trade and transit corridor: the role of the Baku International Sea Trade Port in the connection of East and West."
According to the US-Azerbaijan Chamber of Commerce, transshipment capacity of the port complex in the first phase will amount to about 10 million tons of cargo, containers - about 40 thousand TEU, in the second stage - about 17 million tons of cargo and about 150 thousand TEU of containers, and at the third stage - up to 25 million tons of cargo and about 1 million TEU of containers.
Recall, the first stage of the construction (begun in 2007) of the port in the Alat settlement completed in June 2014, and in 2017 the complex will be commissioned in full. --17D-
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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