In Baku Business Center on July 9, a meeting between the local and the delegation of businessmen from Italy, according to the Fund for Export Promotion and Investment in Azerbaijan (AZPROMO), which announced the event.
The President of AZPROMO Rufat Mammadov told the representatives of Italian companies on the investment climate and business opportunities in Azerbaijan, urging them to actively cooperate.
The meeting identified priority areas for the development of Azerbaijan's economy, the possibility of co-financing of investment projects, as well as issues associated with the creation of Sumgait chemical industrial park, where investors are exempt from virtually all taxes for a period of 7 years. According to the Ministry of Economic Development, up to the 20th of June this year the Ministry received 20 investment projects, including those from foreign companies.
According to the State Customs Committee, in five months of this year, exports of goods to Italy from Azerbaijan increased by 5.5% to $ 2,334 million and from Italy there were imported goods worth $ 91.8 million, up 3.4% over the comparable period of 2012. - 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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