The transit of international freight corridor TRACECA in Azerbaijan has decreased due to the fall in traffic of Central Asian crude oil. In January-May, the volume of transit cargo decreased by 32.9%.
According to the State Statistics Committee, the first five months of this year on the territory of Azerbaijan there were transported 2 million 890 thousand tons of transit goods. Water transport transit (1 452.4 thousand tons) declined by almost half. Transportation of transit cargo by rail (1 437.6 thousand tons) decreased by 4.9%.
Azerbaijan continues to build an international trade port in the Alat settlement to increase the dry cargo transit. In 2017 commissioning of the railway line Baku-Tbilisi-Kars is expected. In parallel to the end of the year it is planned to complete construction of the Azerbaijan section of the Baku-Astara-Astara-Rasht-Gezvin (Iran) international transport corridor North-South. -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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