Azerbaijan's Digital Trade Hub working on advancing business opportunities

Economy Materials 13 April 2021 12:56 (UTC +04:00)
Azerbaijan's Digital Trade Hub working on advancing business opportunities

BAKU, Azerbaijan, Apr.13

By Sadraddin Aghjayev - Trend

The Digital Trade Hub of Azerbaijan (DTH) has developed a new strategy to expand services and optimize online business opportunities, Head of the DTH Masuma Talibova told Trend.

According to Talibova, this strategy provides for the digitalization of all investment algorithms, ensuring awareness, eliminating possible gaps in the legislation on cross-border transactions and improving the digital infrastructure of the project.

“From this point of view, cooperation with government agencies, as well as with local and foreign private companies, is of particular importance. Within the framework of such cooperation with the Central Bank of Azerbaijan, the services of 11 banks were integrated into the Bank Market application. This solution will allow foreigners, legal entities and individuals to get online access to debit and credit cards, their accounts, as well as a number of other banking products,” the DTH head said.

She stressed that this integration will empower users, as well as revive fair competition between banks.

“An important aspect of this solution is to empower a wide range of consumers. Previously, only legal entities could open accounts in our hub, and only in certain banks,” Talibova said.

The DTH heads also said that solutions for obtaining online documents such as an export application, a certificate of conformity, phytosanitary, veterinary certificates, food safety certificates, and a customs declaration are under modernization.


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