In the first half of 2012, through the Azerbaijan section of the corridor Trans Evropa-Caucasus-Asia (TRACECA) ,8.1 million tons of cargo were transported. This is by 0.2 million or 2.5% less than over the same period of 2011, according to the State Statistics Committee (SSC).
With consideration of local carriages through the corridor, the volume of freight traffic totaled 28.1 million tons, by 4.8% higher than in the first half of 2011.
According to SSC, cargo carriers saved from the activities of the corridor TRACECA 213,6 million manat, by 21.6% more than over the same period of 2011.
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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