Digital Trade Hub of Azerbaijan- new e-commerce opportunities for foreigners

ICT Materials 10 December 2020 11:11 (UTC +04:00)
Digital Trade Hub of Azerbaijan- new e-commerce opportunities for foreigners

BAKU, Azerbaijan, Dec.10

By Sadraddin Aghjayev – Trend

The Digital Trade Hub of Azerbaijan (DTH) represents a number of prospects on a global scale, creating an ecosystem of digital entrepreneurship, starting with the provision of electronic and mobile residency, DTH head Masuma Talibova told Trend.

According to Talibova, as an example - possibility of foreign citizens launching their business in electronic form, with the signature (ASAN Imza) of a mobile resident, without coming to Azerbaijan.

"All tax operations will be carried out through the DTH platform. The full digitalization of this service in cooperation with the Tax Service under the Ministry of Economy and its introduction for use by non-residents will contribute to the expansion of e-commerce not only in Azerbaijan, but worldwide,” she said.

As she also noted, opening a digital bank account or creating a digital wallet and the ability to manage all transactions through DTH will allow both small businesses (in the form of bank deposits) and entrepreneurs opening a business in Azerbaijan to make investment in the country.

“Within the framework of cooperation with the Central Bank of Azerbaijan, a ‘marketplace’ of banks was created (providing a number of similar services on one platform), which provides users with an additional opportunity to choose a bank, thereby creating a competitive environment between banks," she added.

Talibova pointed out that DTH is implementing another project that will help entrepreneurs to hire employees for their business in electronic form, using the capabilities of the mobile notary and the subsequent execution and issuance of powers of attorney in digital form. In the implementation of a number of such projects, the Center for Analysis of Economic Reforms and Communications works closely with more than ten public and private partners, integrating into their electronic systems. Work continues to expand this mutual cooperation.

"In general, taking into account the growing interest and the number of applications of foreign citizens who are mobile residents of DTH, we can note the growth of potential in the direction of e-commerce in Azerbaijan. More than one hundred foreign entrepreneurs from 30 countries contacted us and received digital residency of Azerbaijan,” said Talibova.

"As for the countries, first of all, one can note the countries whose citizens are persons who have received a mobile residence of Azerbaijan, mainly India, Estonia, Afghanistan, Belarus and other countries, and also, one can mention Poland and Russia, which agreed to introduce mutual signatures with Azerbaijan,"

She stressed that the scope of DTH will expand when the work on establishing the legal framework for the recognition of mutual signatures is successfully completed. In addition, negotiations were held and positive agreements were reached with the relevant representatives of a number of countries wishing to cooperate with Azerbaijan in this direction.

"Besides, after such a historic event as the liberation of the lands of Azerbaijan from Armenian occupation, restoration work in these territories will arouse the interest of investors, open additional doors in the direction of e-commerce. We intend to apply the investment model of the diaspora and in this direction we have begun joint work with the State Committee on work with the diaspora of Azerbaijan," Talibova said.


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