The Azerbaijan Foundation for Export and Investment Promotion (AZPROMO) has opened a representative office in Beijing, China. The head of the representative office is the entrepreneur Teymur Nadiroglu, Turan was told in AZPROMO.
The new office will play an active role in the export of Azerbaijani goods to China, attracting investment funds of this country to the Azerbaijani economy.
AZPROMO representations are set up abroad, taking into account the priorities of the foreign economic activity. Currently, the offices are in the UAE, the US, Britain, Austria, and Georgia.
Previously AZPROMO representations opened in Kazakhstan and Germany, but they are inactive for some reason.
Opening of new offices this year is not planned. --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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