In the first ten months of this year the number of participants of foreign trade activities in Azerbaijan declined compared to the same period of 2008 by 29.5%. The fact of narrowing the range of participants in imports and exports was presented, according to official data of the State Customs Committee.
According to the SCC, for ten months foreign trade operations involved 7,919 individuals and legal entities. More than half of them (4,296) are individuals. They accounted for $ 481 million, or 1.7% of foreign trade in January-October 2012. Foreign trade involved 3,623 private companies. According to the same source, for 10 months of 2008, import-export operations involved 4,045 legal entities and 7,180 individuals. The share of individuals in foreign trade transactions reached 5.3% ($ 426.8 million).
In 2003 individuals (3,945), owned 8.5% of Azerbaijan's foreign trade. Total active operations in overseas markets involved 6,756 businesses and individuals. - 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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