Today Baku hosts the 11th meeting of the Azerbaijani-Iranian state commission on cooperation in economic, trade and humanitarian spheres. The work of the commission is attended by the Minister of Communications and Information Technology Mahmoud Vaezi.
Noting the recent work done, the Azeri Economy Minister Shahin Mustafayev said the Azerbaijani side did much work for the construction of a railway connecting the railway systems of Azerbaijan and Iran and put the power line Imishli-Parsabad into operation. He noted the construction of a joint car factory in the industrial district of Neftchala, and a pharmaceutical factory in the Pirallahi industrial park.
The Minister of Economy said that in early January, a delegation of Azerbaijani businessmen will visit Tabriz and Ardabil.
In Azerbaijan there are about 400 companies with Iranian capital that have invested $ 2.5 billion in the economy. During the first 11 months of this year the trade turnover between Azerbaijan and Iran grew by 60%.
The government delegation was accompanied by 130 businessmen from Iran. During the meeting of the State Commission a business forum was held. –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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