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Wednesday, 12 April 2017 13:00

Sahil Babayev: exports increase by 20% in the first quarter Featured

Sahil Babayev: exports increase by 20% in the first quarter

“In a short period, comprehensive measures have been taken in Azerbaijan to diversify the economy, to enhance the export potential and non-oil exports”, Deputy Minister of Economy Sahil Babayev said during the 4th International Caspian Energy Forum – 2017 on Wednesday, Caspian Energy News ( reports.

According to him, as a result of comprehensive measures, including simplification of certification, tax and customs changes, creation of infrastructure, training programs for businesses, in the first quarter exports grew by 20%. He also highlighted the role of newly created specialized export associations, the work of the portal Regular trade representations will be opened in the UAE and China, the Deputy Minister noted.

Sahil Babayev also noted that the export missions will continue: “During the 5 months we successfully organized 7 export missions which resulted in signing contracts for the supply of Azerbaijani products to different countries”.

In the first quarter we paid 520,000 manats as bonuses to exporters of non-oil products, and for the five months, during which this mechanism has been in place, payments totalled 750,000 manats”, Sahil Babayev continued.

According to him, the Ministry of Economy of Azerbaijan issued encouraging investment documents on investment projects worth in total over 1.2 billion manats: “Such documents have been provided for 121 projects of entrepreneurs”.

Since the beginning of the year, he said, exports of non-oil sector products have grown by 32.5%, including agricultural products by 44%, industrial products by 25%, and fruits by 20%.

Person in charge of the newsline: Jeyhun Bayramov

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