Azerbaijani government eyes to increase export of non-oil products, import substitution

Economy Materials 6 August 2019 16:59 (UTC +04:00)

Baku, Azerbaijan, Aug. 6

By Anastasia Savchenko – Trend:

The Azerbaijani government continues to carry out the economic reforms to increase the export of non-oil products and expand the import substitution, Azerbaijani Minister of Economy Shahin Mustafayev said, Trend reports referring to official media outlets.

The measures are being taken to promote the "Made in Azerbaijan" brand to stimulate the export of non-oil products.

Azerbaijani entrepreneurs participated in a number of international exhibitions this year. Thus, they represented Azerbaijan with a single stand at exhibitions and international fairs "International Green Week", Fruit Logistics and ProWein in Germany, Prodexpo and MosBuild in Russia, Gulfood in the United Arab Emirates and Sial China in China.

Azerbaijani entrepreneurs are expected to participate in four more international events till the end of the year. Moreover, individual support was rendered to Azerbaijani exporters for their participation in 17 international exhibitions.

The visits of the delegations to China, Poland, Latvia, Qatar, Switzerland and Russia were also organized this year to establish contacts with potential buyers, especially with importers and distributors. “The agreements and contracts for the export of Azerbaijani products were signed as part of the meetings," the minister said.

“An important incentive is the export promotion,” Mustafayev said. “More than five million manats was paid to exporters in January-June 2019, and more than 14 million manats since March 2016.”

The export of non-oil products to Germany, Russia, China, Poland, Italy, Kazakhstan, Lithuania, South Korea, Greece, Canada, Australia, Malaysia, the US, Japan, Saudi Arabia and other countries is encouraged as part of this mechanism.

“The procedure of export operations is being simplified,” he said. “The trade representatives work in the countries with high export potential for Azerbaijani products. The trade and wine houses are being created.”

(1 USD = 1.7 AZN on Aug. 6)