Baku, Azerbaijan, April 3
By Emin Aliyev - Trend:
The creation of free customs warehouses in Azerbaijan would intensify transit opportunities of the country, a package of proposals for the development of the business climate in Azerbaijan in 2014, published annually by the American Chamber of Commerce (AmCham) reported.
Free customs zone and free warehouse are customs regime at which imported goods are placed in special places, located around the country. However the imported goods are considered as goods outside the customs territory in respect to the right for imports and corresponding taxes, and are subject to the usual customs control.
"AmCham supports the concept of representation such warehouses in Azerbaijan. Their implementation will allow entrepreneurs to receive small shipments from a single supplier, however from different sources or at different times, to combine them and carry out customs clearance of such goods as a single load," the statement said.
Such mechanism will reduce the transport costs significantly for importers and entrepreneurs and expand opportunities for large transitions of goods from the U.S. to Asia, the Chamber noted.
"This approach will accelerate the country`s transformation into a regional transportation hub. Furthermore, the start of negotiations on the accession to the Vienna Convention on the International sale, which will provide more favorable conditions during the negotiations with international partners and the results of them will contributed to the development of Azerbaijan's participation in international trade," AmCham recommends.
Translated by S.I.
Edited by: SI
AmCham offers to introduce free customs warehouses in Azerbaijan
The creation of free customs warehouses in Azerbaijan would intensify transit opportunities of the country, a package of proposals for the development of the business climate in Azerbaijan in 2014, published annually by the American Chamber of Commerce (AmCham) reported.