Azerbaijan exempts bicycle parts’ import from paying customs duties
Baku, Azerbaijan, June 22
By Azad Hasanli – Trend:
Azerbaijan’s Cabinet of Ministers has exempted the import of spare parts used for bicycle manufacturing from the payment of customs duties for a period of two years.
The relevant changes have been made to the decision of the Cabinet of Ministers “On the rates of customs duties on export-import operations in Azerbaijan”.
These exemptions will come into force on July 22, 2017.
A bicycle factory, ISMA BIKES, has been operating in Azerbaijan since August 2016. The facility was built in the village of Diyalli of Azerbaijan’s Ismayilli District.
The factory has a yearly production capacity of 20,000-30,000 bicycles. The facility is provided with Bulgarian, Danish, Dutch, Chinese, and Turkish equipment.