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Weekly actual topics in Azerbaijan (May 23-27)

Analysis Materials 31 May 2016 16:30 (UTC +04:00)

Azerbaijan can become hub for export of Polish products

Azerbaijan can become a hub for export of Polish products to Iran and Central Asia, Vice President of the Polish Agricultural Market Agency Jaroslaw Olowski said.

This would open a new page in cooperation between Azerbaijan and Poland, Olowski said.

"We would like to continue and expand the cooperation, the foundations of which were laid two years ago," he said. "In recent years, our relations weakened. One reason for that is a change of government in Poland, but the devaluation of the national currency of Azerbaijan became a more compelling reason. After the manat cheapened, Azerbaijan started to import less from Poland.'

"I can see that Azerbaijan almost completely provides itself with agricultural products, but it can become a hub in the region for the further sale of agricultural products of Poland and other goods to neighboring countries," Olowski said.

He added that currently Polish producers seek new markets.

"After imposing an embargo on trade with Russia, which is Poland's main trading partner in the region, Polish producers are seeking the new sales markets for their products," Olowski said. "Azerbaijan is one of the potential markets."

"But Poland also considers Azerbaijan as a hub for further export of Polish products to the markets of Iran and Central Asian countries, as Azerbaijan coexists with all of these countries," he added.

Olowski stressed that Poland is also interested in the import of a number of agricultural products from Azerbaijan.

"I know that citrus fruits, olives, nuts and so on are grown in Azerbaijan," he said. "I think that Poland will be interested in the import of these products."

Olowski added that Poland would also like to provide the region with its experience in the field of veterinary and phytosanitary.

"Poland's veterinary and phytosanitary control services are recognized as one of the best in Europe and the country would like to introduce its technologies and apply its knowledge in the countries of the region, including Azerbaijan," Olowski said. "This envisages the exchange of knowledge, as well as the introduction of new various farming systems."

According to the State Statistics Committee, the Azerbaijan-Poland trade turnover amounted to 20.74 million manat in January-April 2016, that is, 13.6 percent more than in the same period of 2015.

Needs of Azerbaijani economy's real sector assessed

For Azerbaijan's economy to function smoothly, its real sector requires 15-20 billion manats, said Elman Sadiqov, director of Atabank's Risk Management Department, head of the expert group on risk assessment of the Azerbaijan Accountants and Risk Professionals Association (ARPA).

Sadiqov made the statement at the second Risk Management Forum in Baku.

Sadiqov said that taking into account the harm as a result of consumer lending, which is unable to contribute to the growth of domestic production, the development and creating of new jobs, it should be brought down to a minimum.

"Consumer lending leads to an outflow of currency from Azerbaijan," he said.

"Around 80-90 percent of consumer loans are directed to purchase the products abroad."

Moreover, as one of the negative aspects of retail loans, Sadiqov called overlending of population and the suppression of the production.

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