International Assistance for Azerbaijan’s Export and Investment Promoting Fund Terminates
Azerbaijan, Baku, 19 March / corr. Trend I. Khalilova/ The international support for the Azerbaijani Export and Investment Promoting Fund (AZPROMO) will terminate in 2008 , but the cooperation will be continued with the Society for Technical Assistance of Germany (GTZ) and Development Program of UN (UNDP), Emil Majidov, the president of AZPROMO said.
UNDP finances the project of support and GTZ finances the establishment of export unions.
The total budget of the Fund for 2008 is approved at AZN900,000. In addition, some 50-55% of the Fund will be financed by government subsidies, 10-15% by international finance organizations and remaining part will be financed with the membership fees. The membership fee was increased from AZN2,500 to AZN4,000 in 2008. And, the number of members increased from 13 to 107 as well.
AZPROM has held some 50 events in over 15 countries of the world.
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