Baku, Azerbaijan, July 31
By Ilkin Shafiyev – Trend:
The introduction of the Green corridor system will help residents of industrial parks in Azerbaijan to significantly simplify the procedures for execution of export and import operations, the Director General of the Sumgait Chemical Industrial Park Nazim Talibov told reporters July 31.
He noted that, there is a need for the introduction of such a system in the country today.
"The production has already been established in 75 percent of the total area of industrial parks in Azerbaijan. The export turnover of Sumgait Chemical Industrial Park alone is estimated at 1.8 million tons per year according to initial estimates. If we add other industrial parks, this figure will be more than two million tons per year. In this regard, an objective need to simplify customs procedures for residents is necessary. The Green corridor system will help us to resolve this," Talibov said.
He said this system will allow to deliver the goods to the destination, bypassing the customs terminal. Customs can check up to 10 percent of the total cargo.
"This prevents the loss of time, reduces the cost of entrepreneurs. The signing of a relevant memorandum [between Sumgait Chemical Industrial Park LLC, Balakhani Industrial Park LLC, Agency for development of small and medium-sized enterprises and Green corridor JSC] was the first step in the area of introduction of the system in our industrial parks. Naturally, certain procedures must be performed for this purpose. Given that the goods find their way to the warehouses of entrepreneurs without being checked, there are certain obligations and rules for such cases. The mechanism is based on mutual trust between customs officers and entrepreneurs," the general director of the chemical park said.
Sumgait Chemical Industrial Park is located on a 506 hectare-territory, the total territory of industrial zone of the park is 450 hectares. The investments worth about $2 billion were attracted to the park. Seventeen residents have been registered in the park.
Presently, Azerbaijan has five industrial parks: the Sumgait Chemical Industrial Park, the Balakhani Industrial Park, the Garadagh Industrial Park, the Mingachevir Industrial Park and the Pirallahi Industrial Park, as well as four industrial zones: the Neftchala, Masalli, Hajigabul and Sabirabad industrial zones.
Today, all residents of industrial parks, high-tech parks and agriculture parks are exempt from property tax, land tax, profit tax and VAT on imported equipment for seven years. Repatriation of profits after payment of taxes is guaranteed to all investors.
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