Today is the last meeting of the autumn session of the Azerbaijani Parliament. The most interesting was the discussion of the legislative package on the activities of special economic zones and bring them in line with the Customs Code of the country.
Some changes were made to the Tax Code, as well as bills for amendments to the laws "On special economic zones", "On approval of the Regulations on service in customs, "On the Border Troops," and "On the state border of the Republic of Azerbaijan."
According to the innovation, the goods to be re-exported are exempt from the excise tax. In the special economic zones allowed not only the activities of customs brokers, but also the presence of neutral storage, which received temporary imported goods (in accordance with Articles 192 and 194 TC AR). - 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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