The hotel Four Seasons in Baku on June 21 will host a business forum organized by the Black Sea Trade and Development Bank (BSTDB) as part of the 15th annual meeting of the members of the Governing Council (GC). This year, completed a one-year term of presidency of Azerbaijan in SU BSBTD.
The Foundation to Promote Exports and Investment in Azerbaijan told Turan that the work of the Business Forum will bring together representatives of different spheres of business entities from 10 countries, including Greece, Italy, Serbia, Jordan, Russia, Turkey, etc. The forum will discuss the achievements and investment opportunities offered by Azerbaijan, the international investment community.
Managing in the Black Sea Bank of Azerbaijan is the Minister of Finance Samir Sharifov and the alternative manager is the Minister of Economic Development Shahin Mustafayev.
BSTDB was founded by 11 countries in 1996 with the aim of integration between them and to promote their economic development. The bank started its activity in 1999. The authorized capital of BSBTD is 3 billion SDR (1 SDR = 0.66 USD). The share of Azerbaijan's participation in the bank's capital is 5%. - 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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