BAKU, Azerbaijan, January 24. Azerbaijan has the potential to increase its annual exports by more than one billion US dollars in the next five years, UN Resident Coordinator in Azerbaijan Vladanka Andreeva said during the event held in Baku on the theme "Non-tariff barriers to trade," Trend reports.
"Azerbaijan's exports have been growing steadily over the past few years, reaching $35 billion in 2022. At the same time, non-mineral exports have almost doubled in the last five years. Azerbaijan has the potential to increase its annual exports by more than $1 billion in the next five years," Andreeva said.
According to her, increasing the efficiency of domestic export procedures and improving the quality of infrastructure are necessary to strengthen Azerbaijan's position as a key exporter for the region and the European Union.
"Improving access to information on trade requirements and procedures—not only for trade in goods but also for trade in services—is a key factor for Azerbaijan's export development. The ITC (International Trade Centre) assessment has revealed that Azerbaijan's exports of IT and tourism services are booming and will benefit from a favorable business environment," she added.
To note, ITC is a joint agency of the United Nations and the World Trade Organization, fully dedicated to supporting small businesses in developing countries in the field of trade. Established in 1964 under the General Agreement on Tariffs and Trade (GATT), since 1968 ITC has been working under the joint auspices of GATT/WTO and the United Nations, with the latter acting through the UN Conference on Trade and Development (UNCTAD). ITC is the focal point within the UN system for technical cooperation with developing countries and countries with economies in transition in the area of trade promotion and export development.
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