Politics Materials 30 August 2005 14:50 (UTC +04:00)

A presentation of the Export and Investments Promotion Fund has been held in Baku on Tuesday. In his remarks Farhad Aliyev, the Minister for Economic Development, noted that the Fund was registered by the Justice Ministry of Azerbaijan, Trend reports.

Aliyev underlined the new body was established on the base of the Investments and Consultations Promotion Fund through expanding its functions with export promotion. The Minister noted that at present Azerbaijan has trade relationships with 130 countries and large perspective for their development.

In his turn the Deputy Minister for Economic Development, Mikayil Jabbarov, stated that export of domestic products to the world markets, in particular, the countries of Asia and Europe, as well as the United States assumes special importance for Azerbaijan


Taking the flow Marco Borsotti, the resident-coordinator of the UNDP, noted the importance of diversification of the national economy, development of the non-oil sector of industry. He also stressed the necessity for specific strategy in Azerbaijan for successful promotion of export. Borsotti regarded the agriculture as the best asset of Azerbaijan. Noting the importance of the development of regions of Azerbaijan he stressed the country was actually a sub-regional center.

The Export and Investments Promotion Fund was established with regard to expand the authorities of the Investment and Consultations Promotion Fund through including the obligations on promoting the export products. Earlier it was planned to establish s special Fund on Export Promotion, while further the idea was rejected.