Today, the Minister of Economy Shahin Mustafayev received the delegation of Chinese businessmen headed by Board member of the petrochemical company CNPC Van Shihong.
The Minister said the bilateral trade between the countries grew by 56% by October 1, which is confirmed by the data of the State Customs Committee (from January to October, the total figure was $ 641.39 million, $ 495.58 of which occurred in imports).
Mustafayev said there is the possibility of increasing trade and economic potential, especially in the field of investment, energy, transport and transit transportation.
CNPC has signed a memorandum of understanding with SOCAR on the establishment of a chemical and oil refining complex in Azerbaijan.
Recall, on import positions China occupies the third place in the trade turnover with Azerbaijan. In general, the country is in fifth place. --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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