Azerbaijani exporters to be able to use simplified method of money turnover

Business Materials 8 February 2018 20:09 (UTC +04:00)

Baku, Azerbaijan, Feb. 8

By Huseyn Valiyev – Trend:

Azerbaijani entrepreneurs will be able to take advantage of the simplified method of money turnover when exporting goods to the networks of major Russian markets, Zaur Gardashov, head of the Azexport state portal, told Trend.

Gardashov said that currently, the subject of negotiations with a number of banks, including the Russian VTB Bank is the method of financing the exported Azerbaijani products to the Russian market.

“For example, today an Azerbaijani exporter that supplies its products to a network of Russian stores can receive its money in a period from 30 to 90 days, in other words, an entrepreneur can not receive payment instantly. Big trading networks of Azerbaijan operate on a similar principle. The system that we plan to offer entrepreneurs will enable them to receive payment as soon as the exported products cross the border. This, in turn, will allow entrepreneurs to increase exports of products,” added Gardashov.