The 4th meeting of the Italian-Azerbaijani Intergovernmental Commission on Economic Cooperation was held in Rome on June 13.
The Minister of Economic Development of Italy Paolo Gentiloni in his speech said that the Trans-Adriatic gas pipeline project is of strategic importance for Italy and the beginning of the gas supplies is to be commissioned in 2020.
According to him, last year the mutual trade turnover amounted to 5 billion Euro and continues to grow.
Gentiloni noted that economic cooperation should not be limited to the energy sector. There are opportunities for cooperation in various fields.
The Minister also said that Italy supported Germany's efforts as OSCE chairman to settle the Armenian-Azerbaijani conflict. In the case of the election of Italy the Chairman of OSCE in 2018, it will make every effort to resolve the conflict, he added. -02D-
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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