Details added (first version posted at 12:41)
Baku, Azerbaijan, Oct. 13
By Anvar Mammadov – Trend:
About 2.18 million manats have been paid back to Azerbaijani exporters since early 2017 under the mechanism for returning a part of expenses in the export of non-oil products, said Rufat Mammadov, head of Azerbaijan Export and Investment Promotion Foundation (AZPROMO).
“The volume of products exported under this mechanism amounted to $22.69 million,” he told a press conference in Baku Oct. 13.
Mammadov said this mechanism covers 500 types of products in 15 product groups, adding it opened new markets for local entrepreneurs.
“When speaking of the markets traditional for Azerbaijan, we imply Russia, Kazakhstan, Georgia, Belarus and other countries. But, under this mechanism, we started to export to Canada, Romania, Australia, South Korea, Poland, the Czech Republic, Lithuania and the Seychelles,” he said.
So far, wine exporters have received the greatest benefit from application of this mechanism, according to Mammadov.
He noted that 62 percent of the funds returned under the mechanism accounted for wine exporters.
Under the mechanisms for promoting export of non-oil products, the Azerbaijani government returns a part of exporters’ costs, compensating 3 to 6 percent of the customs value of goods.