The Trade House of Lithuania, in force since February 2009, announced the decommissioning of its activities in Azerbaijan. The reasons for the closure of the company are not reported.
The company was representative of several Lithuanian companies for the production of dairy products, confectionery and bakery products.
The company operated at OJSC Ata Holding, but after some time went to another group of companies close to the holding. In 2009, the director of the Trade House of Lithuania Ahmed Mammadov told Turan on the plans to build a dairy plant in Shamkir with a processing capacity of 1,000 tons of milk per day. The equipment was scheduled to deliver from Lithuania and the investment in the project was estimated at 2 million Euros.
The opening of Lithuanian Trade House in April 2009 was attended by members of the Government (https://goo.gl/diyX0l).
According to the State Customs Committee, in 2014 Lithuania supplied to Azerbaijan 1.5 thousand tons of milk and dairy products (mainly butter) worth $ 1 million 454.6 thousand. In the first quarter of this year, the shipments totaled 317.6 tons ($ 376 thousand). -08B-
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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