The intervention of the Azerbaijani leadership in agricultural industry should be minimal, the World Trade Organization (WTO) representatives said. Representatives of the Foreign Ministry at the recent talks in Geneva expressed hope for 10% support to agriculture from its share in GDP (up to 300 million AZN per year from NFES) plus the provision of an annual one-time assistance, mostly to large producers, amounting to $ 2 billion.
It's about technique. The international organization sees braking activity and corruption in the provision of tax incentives, the use of export subsidies and financial support to the agricultural sector.
Azerbaijan applied for WTO membership in 1997. Ten years later it signed a bilateral protocol with Turkey on the completion of negotiations for accession to the WTO. In May 2008 a protocol was signed with Oman and the UAE, in May 2010 - with Georgia, and in 2012 - with Kyrgyzstan. --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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