Powers of the Fund for encouragement investments and consultations (FPIC) under the Ministry of Economic Development of Azerbaijan have been extended, deputy Minister of Economic Development, Mikail Djabbarov said on 29 June, Trend reports. Extending of powers has been carried out on the account of adding functions on encouraging the local export production. Earlier the Fund for export encouragement was planned to be established for these purposes.
"Adding new functions does not rule out the opportunities for establishing a special appropriate fund in the perspective. However, for carrying out practical actions on encouraging the export line of the local entrepreneurship, we decided to realize it based on the existing structure. It shows, that encouraging of export is one of the priorities of our economic policy”, deputy Minister noted.
According to Djabbarov, the policy for encouraging export contains some basic trends: availability of the data base about exporters, support in solution of problems with technical barriers to the market access (standardization, certification, search for new markets, setting up of logistical chain).
"In future, special privileged mechanisms may be applied, however, their appliance will be carried out with the account of the country’s commitments on foreign trade”, Djabbarov noted.