Last week’s laws, orders and decrees in Azerbaijan (June 19-23)
Azerbaijan exempts bicycle parts’ import from paying customs duties
Azerbaijan’s Cabinet of Ministers has exempted the import of spare parts used for bicycle manufacturing from the payment of customs duties for a period of two years.
The relevant changes have been made to the decision of the Cabinet of Ministers “On the rates of customs duties on export-import operations in Azerbaijan”.
These exemptions will come into force on July 22, 2017.
A bicycle factory, ISMA BIKES, has been operating in Azerbaijan since August 2016. The facility was built in the village of Diyalli of Azerbaijan’s Ismayilli District.
The factory has a yearly production capacity of 20,000-30,000 bicycles. The facility is provided with Bulgarian, Danish, Dutch, Chinese, and Turkish equipment.
Ilham Aliyev approves funding for renovation of residential buildings in Shirvan
Azerbaijan’s President Ilham Aliyev has signed an order to provide funding for the renovation of multi-storey residential buildings in the country’s Shirvan city.
Under the presidential order, three million Azerbaijani manats are allocated from the president’s Contingency Fund for the continuation of renovation work in the city, including refurbishment of roofs and facades of 52 multi-storey residential buildings.