Azerbaijan determines stimulating methods of non-oil sector development
Azerbaijan, Baku, May 20 / Trend N. Ismayilova /
Azerbaijan determines specific areas and methods for promoting export of non-oil sector, Director of the Research Institute for Economic Reforms under the Ministry of Economic Development Vilayat Veliyev said today at a workshop on "Direction of Azerbaijani exports".
"According to research conducted by the Institute, the priorities in the field of non-oil sector are agriculture, tourism, light industry, food industry and machine building sector", he said.
He said that stimulating activities in the country, are aimed at improving the legislative framework, the coordination of export policies, export financing, stimulating the production of exports.
"According to our calculations, rise in price of real effective exchange rate of manat by 1 percent will help to reduce non-oil exports by 1.47 percent, while reducing of Azerbaijani trade partners' income by 1 percent - a decline of 9.92 percent", Veliyev said.
Azerbaijani President Ilham Aliyev signed a decree "Additional measures in developing the rules regulating import and export operations in Azerbaijan" May 14, 2010.
It will facilitate full compliance with export and import procedures, the requirements of economic development and strengthening of state support for entrepreneurship, acceleration of socio-economic development of regions and export growth, as well as increased production of non-oil products.