Today in Baku within the framework of inter-regional forum Russian-Azerbaijan have been signed 12 documents on cooperation in the humanitarian and economic spheres. Among the documents signed: an agreement on twinning the cities of Gabala and Kislovodsk; protocol of intent on cooperation between the Narimanov district of Baku and Astrakhan region of the Russian Federation; agreement on industrial production in the special economic zone in the Astrakhan region; a framework agreement on cooperation between the Baku Medical University and Stavropol Medical University; Agreement between the tourist center "Derbent 2000" Guba and Khachmaz tourist attraction and a tourist center; a cooperation agreement between the Foundation AZPROMO and the Chamber of Commerce of the Stavropol Territory; a memorandum of cooperation between AZPROMO and the Agency for Entrepreneurship and Investment of Dagestan; a memorandum of cooperation between AZPROMO and the Association "Caspian Way"; agreement to supply glass by the Caspian float plant and the company Glass House; a memorandum of cooperation of producers and exporters of fruits and vegetables of Azerbaijan and the Association of "Caspian Way"; memorandum of partnership between OOO "Bentonite", ADY Express and "AzRosPromInvest". -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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