BAKU, Azerbaijan, September 25. Azerbaijan sees significant potential for increasing the supply of its products to Slovakia, the Deputy Economy Minister of Azerbaijan Anar Akhundov said at the Azerbaijan-Slovak business forum, Trend reports.
“The trade turnover between Azerbaijan and Slovakia for 8 months of 2024 amounted to $31 million; the main part came from the purchase of products of different purposes from Slovakia. Azerbaijan sees significant potential for increasing the supply of its products to Slovakia,” the deputy minister said.
He expressed the opinion that this will be facilitated by new logistical opportunities.
“Azerbaijan is favorably located on the way of international transport corridors. In fact, we laid the foundation of the Middle Corridor; we were also the initiators of the construction of the Baku-Tbilisi-Kars railway line, which is capable of transporting up to 5 million tons of cargo per year from 2024,” Akhundov noted.
The Deputy Minister also talked about the investment environment in Azerbaijan.
“Azerbaijan has a very favorable investment environment supported by various tax incentives and government initiatives. These include preferential loans, the expansion of public-private partnerships, and fundamental reforms to the tax system aimed at increasing transparency and improving the tax system. In addition, Azerbaijan's industrial zones offer exemption from various taxes for 10 years,” he added.