BAKU, Azerbaijan, November 1. Azerbaijan has eliminated import duties on bicycle and scooter parts until 2028, Trend reports.
Azerbaijani Prime Minister Ali Asadov has signed a relevant decision to facilitate the change.
The decision was made in response to local manufacturers' requests to optimize customs duties to encourage and support the domestic assembly of bicycles and scooters in Azerbaijan.
Currently, according to Resolution No. 500 of the Cabinet of Ministers of the Republic of Azerbaijan, dated November 17, 2017, an ad valorem customs duty (and a special customs duty for one spare part) of 5 and 15 percent is applied to different types of bicycle and scooter spare parts.
Under the new decision, the customs duty on imports of these parts for industrial assembly at local manufacturing facilities will be set to 0 percent until the end of December 31, 2028.
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