A business forum which, according to the Fund of Azerbaijan Export and Investment Promotion, will bring together representatives of about 40 Czech companies, will be held during the visit of the Minister of Industry and Trade of the Czech Republic, Jan Mládek in Baku Business Center on March 3.
According to the State Customs Committee, in 2014 the trade turnover between Azerbaijan and the Czech Republic increased by 2.1 times, and amounted to $638 million, however, imports from the Czech Republic ($46 million) reduced by two times. We import hatching eggs, hops. pharmaceuticals, steel, air conditioning, refrigeration equipment, digital electronic equipment, motor vehicles, sodium cyanide, detergents, etc. goods. Azerbaijan's exports consists essentially of dig the oil, the volume of which last year increased by $ 376 million.
In 2014, investments of the Czech Republic in Azerbaijan amounted to 132.5 million manats, which is 2.7% of foreign investments. 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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