The VII Azerbaijani-Russian inter-regional forum dedicated to trade, economic ties and mutual investment policy of the two countries will be held in Baku on November 1.
According to the Ministry of Economy, the forum will host a meeting of representatives of business circles of Azerbaijan and Russian regions. These are companies that are engaged in industry, agriculture, construction, tourism, trade, consulting, logistics, ICT, finance, pharmaceuticals, etc.
The previous VI Russian-Azerbaijani inter-regional forum was held in Yekaterinburg on September 30.
According to the State Customs Committee of Azerbaijan, for the first 9 months of this year the trade turnover between Azerbaijan and Russia amounted to $ 1 billion 347.1 million, which is slightly ($ 4.4 million) less than in the comparable period of 2015. Imports of goods from Russia were 4 times higher than Azerbaijan exports ($ 251.6 million). -------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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