Import of used cars in Azerbaijan in January-May of this year increased by 71%. Experts suggest that the pace will not slow down after the environmental standards for vehicles imported to Azerbaijan will come into force on July 1.
According to the State Customs Committee (SCC), over the first five months of this year the 15,230 (by 38.2%) used cars were brought to the country.
The total declared value of the cars imported by individuals in January-May totaled $ 115.4 million. One passenger car was registered by the Customs House at an average $7.576, in the previous year this figure was $9.400.
It should be noted that the principle of “a single window” for import and state registration of used cars is applied in Azerbaijan. 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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