The first meeting of the Azerbaijani-British Intergovernmental Commission will be held in London
The first meeting of the Azerbaijani-British Intergovernmental Commission on Economic Cooperation will begin in London tomorrow. At the meeting, which will last two days, will focus on the further development of trade and economic relations between the two countries. Governmental delegation from Baku headed by Minister of Economy Shahin Mustafayev is accompanied by a group of businessmen. Approximately 50% of foreign investments in Azerbaijan belongs to the United Kingdom. Britain invested in Azerbaijan's economy $21 billion.
In 2015, Azerbaijan's trade with Britain was $ 564 million, by two times less than in 2014 (data from the State Customs Committee.) The export of Azerbaijan ( $10.6 million) decreased to 91.5% over a year, and decreased to 43,5% ($553,300,000.) -- 08D-
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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