Can not open 'PRODUCTS' and 'INVENTORY' in VirtuMart Control Panel

[vbajraktarov]

I am an absolute beginner with Joomla and VirtueMart! I am a very experienced web & computer user. I have succesfully installed J1.7.3 and VM2.0 final. There were minor problems with instalation - which I resolved them. But, after trying to open 'PRODUCTS' or 'INVENTORY' after a period of waiting I simply get: 1 - An error has occurred. connect() timed out! Everything else in the frontend and the backend seems to be working just fine - BUT I CAN NOT CREATE, ERASE or EDIT a product! I tried to do everything that came to my mind - NOTHING. The labels are simply gray (in color) and when I click-nothing opens.

HELP PLEASE !

Thank you in advance.