BAKU, Azerbaijan, April 6. The condition of investing 34 million manat ($20 million) for tobacco production in Azerbaijan takes into account the relevant equipment's market value, said Deputy Head of the country's State Tax Service Samira Musayeva at a meeting of Azerbaijan's Parliamentary Committee on Agricultural Policy, Trend reports.
She noted a need for local tobacco production to meet the requirements of the local market and import regulations.
"Therefore, a requirement has been established for the registration of economic entities operating in the country for at least one year. This project aims to develop local tobacco farming. It is planned to increase the volumes of local raw materials in tobacco products from this year until 2030.
The production of high-quality tobacco raw materials is planned, which will create conditions for the manufacturing of high-quality tobacco products. To cultivate new types of tobacco raw materials and increase their volumes, a requirement is set that tobacco products made in 2024 contain 96 grams of local raw materials; in 2027–2029, 100 grams; and in 2030 and subsequent years, 120 grams of local raw materials. This will also serve the goals related to protecting the local market," Musayeva added.
To note, Azerbaijan produced 846.3 tons of tobacco from January through February 2024, up 6.1 times year on year.
Stay up-to-date with more news on Trend News Agency's WhatsApp channel