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Azerbaijan creating industrial clusters to develop metallurgical industry

Business Materials 16 May 2021 13:08 (UTC +04:00)
Azerbaijan creating industrial clusters to develop metallurgical industry

BAKU, Azerbaijan, May 16

By Fidan Babayeva - Trend:

As part of the development of the metallurgical industry in Azerbaijan, four large plants are currently being built, Deputy Director of the International Institute for Energy Policy and Diplomacy of the Moscow State Institute of International Relations, expert of the Institute’s Center for Sustainable Development Igbal Guliyev told Trend.

According to Guliyev, the process of creating industrial clusters in Azerbaijan is aimed at developing such sectors of the non-oil sector of the economy as the aluminum, steel, metallurgical industry, heavy engineering, special car building, production of building materials and fertilizers, etc.

"Resource and raw material provision create favorable preconditions for the development of the metallurgical industry in Azerbaijan," the expert said.

Moreover, one of the priority areas for building up the country's industrial potential is the creation of new factories for the production of building materials and fertilizers, Guliyev noted.

"For example, since 2019, almost complete provision of the domestic construction industry with cement has been carried out at the expense of its own production. The leadership of Azerbaijan provides all-round support to the innovative development of the industrial sector and creates the infrastructure necessary for the creation and promotion of start-up projects, such as, for example, the High Tech Park - Azerbaijan under the Ministry of Transport, Communications and High Technologies of Azerbaijan, the INNOLAND innovation and incubation center under the State Agency for the Public Services and Social Innovations (ASAN Service)," Guliyev said.

From January through March 2021, Azerbaijan exported products of the non-oil sector of the economy for $501.5 million, which is 11.3 percent, or $70.6 million more compared to the same period of 2020.

At the same time, during the specified period, the export of non-oil products to Turkey amounted to $163.1 million, Russia - $129.8 million, Switzerland - $44.7 million, Georgia - $38 million, the US - $18.3 million.

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