Representatives of the Italian province of Sicily companies working in the furniture industry, engineering, construction, etc., visited Azerbaijan last week to explore opportunities to establish business relationships with local partners. This is the second business-landing of the peninsula in December of this year. The first group of Italian businessmen took part in the Azerbaijani-Italian business forum in Baku on December 6
Representatives of Sicilian companies visited the headquarters of the Foundation to promote exports and investment in Azerbaijan (AZPROMO), where they were informed about the economic potential and investment opportunities in the country. Director of Eurocoop Soc. Coop. Zitelli Antonino in a meeting with the executive director AZPROMO Rufat Mammadov expressed his firm desire to take part in the work on the improvement of Baku.
According to the ministry, 28 Italian companies have a presence in Azerbaijan. Italian investments in Azerbaijan's economy totaled $ 44 million, of which $ 33 million - in the non-oil sector. - 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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