At the 13 April meeting in Baku transport operators signed an agreement on creation of the Trans-Caspian international transport consortium.
The press service of CJSC Azerbaijani Railways said the consortium includes the rail operators of Azerbaijan (ADY Express and ACSC Logistics), Kazakhstan (KTZ Express) and Georgia (Trans Caucasus Terminals).
An agreement has been reached on the establishment of the consortium’s Supervisory Board with the participation of representatives of the participating companies. The Deputy Chairman of the Azerbaijani Railways Board Igbal Huseynov was elected for Chairman of the consortium’s Supervisory Board.
In May, the sides will discuss the schedule of trains on the specified route.
Turan IA was told in the State Railways the Trans-Caspian corridor ferries loads from Europe to China on the bloc train Nomad Express for 10-12 days, making this route attractive. After commissioning of the Baku-Tbilisi-Kars railway, the freight traffic on this corridor will increase, and the delivery time will be reduced, according to the State Railways. -----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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