Azerbaijan, Baku, June 20 / Trend H.Veliyev /
The Azerbaijani Ministry of Communications and Information Technology of Azerbaijan is preparing proposals to reduce customs duties on imported components for high technology products, Azerbaijani Minister of Communications and Information Technology Ali Abbasov said at a meeting on Tuesday, held jointly with the ruling New Azerbaijan party.
The minister said the duty for computers imported into the country is three per cent, while that for the production of their components is 10-15 per cent of their cost.
Abbasov noted that despite the dynamic development of ICT sector in Azerbaijan, export of products significantly lags behind imports.
"In connection with the dynamic growth of the automation process of various state agencies we are observing a high level of imports into the country of high-tech products," Abbasov said.
In addition, the optimisation of the tax legislation in this sphere and presence of preferential loan resources are necessary to develop the ICT sector in Azerbaijan and increase its competitiveness.
Azerbaijan is implementing a project of to create a fund to support ICT which will ensure opportunity of issuance to companies of loans and grants. Creation of a Fund will allow local companies to get both monetary and fiscal benefits, Abbasov said.
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