Report
Today Baku hosts the conference Investments in Infrastructure, Power Generation and Renewable Energy Sources in Azerbaijan, which was attended by representatives of foreign countries.
The head of the local office of the European Union Malena Mard said for the EU official Baku is an important trade and economic partner - imports of European products account for more than half of the imports.
According to her, during the recent visit to the Yevlakh region she was convinced of the priorities of agricultural industry products, so she considers important distribution of agricultural products of Azerbaijan in the European Union, offering the Western experience in this field. At the same time, she is interested in the ASAN service’s successful operation principle.
“In addition, the European Union fully supports the official Baku on the issue of ensuring long-term energy security through the project Southern Gas Corridor. We are interested in the transport project East-West,” she said. --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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