On Friday a press conference was held in Baku on the results of bilateral meetings of Azerbaijani and Italian entrepreneurs. According to the President of the Italian Agency for the Support of Foreign Trade Activities, Riccardo Monti, his country is very interested in a qualitative change in the level of relations with Azerbaijan - the five-time deficit in turnover formed as a result of oil supplies to the Apennines has been overcome not occasionally.
Businessmen in Italy are able to support local businesses in the issue of raising the real economy - public and private companies of this company this year alone invested more than $ 480 million, a quarter of which ($ 120 million) is in the non-energy sector.
According to figures from the State Customs Committee of Azerbaijan, by September 1, the mutual trade turnover between Azerbaijan and Italy totaled $ 1.95 billion (traditionally a leading position among partner countries through the sale of crude oil), or 13.86% of the total turnover of the country. --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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