Baku, Azerbaijan, Feb. 27
By Huseyn Valiyev - Trend:
Russia’s VTB Bank within a month will present Azexport portal a mechanism of financing exported Azerbaijani products to the Russian market, Zaur Gardashov, head of Azexport portal, told Trend.
The ready-made banking product will provide Azerbaijani entrepreneurs with a simplified method of money turnover when exporting goods to the networks of major Russian markets, he said.
Presently, 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 cannot receive payment instantly, Gardashov said earlier.
Big trading networks of Azerbaijan operate on a similar principle, he noted.
The system that we plan to offer entrepreneurs will enable them to receive payment as soon as the exported products cross the border, he said. This, in turn, will allow entrepreneurs to increase exports of products, added Gardashov.