BAKU, Azerbaijan, February 16. Starting this
year, Azerbaijan will provide state subsidies to cover logistics
costs for exporting goods to the United Arab Emirates (UAE), said
Yusif Abdullayev, executive director of the Azerbaijan Export and
Investment Promotion Agency (AZPROMO), at the Azerbaijan-UAE food
and agriculture business roundtable in Baku, Trend reports.
“We intend to encourage our companies, as well as our partners
from the UAE, to find ways to import Azerbaijani products. We
understand that certain challenges exist—not problems, but some
difficulties. One of the main obstacles is logistics, and in some
cases, costs can be relatively high. However, we have already
discussed alternative routes and methods for transporting products
to and from the UAE. Starting this year, Azerbaijan will introduce
subsidies to cover logistics costs. I am confident that this
mechanism will change company approaches and increase Azerbaijan’s
exports,” Abdullayev said.
He highlighted that the subsidy is exclusive to new markets and
will not extend to traditional markets.
“For example, exporting Azerbaijani tomatoes to the Russian
Federation will not receive subsidies. Our goal is to encourage
companies to diversify, find new markets, and promote growth there.
I believe this mechanism will certainly benefit our companies,”
said the official.
AZPROMO was founded in 2003 by the Ministry of Economy of
Azerbaijan to facilitate foreign investment in the non-oil industry
and promote exports of non-oil products. The agency's primary
objective is to enhance the nation's economy by soliciting
international investment and fostering exports in the non-oil
sector. To date, the agency has conducted 33 export trips to
international destinations under the "Made in Azerbaijan"
initiative.
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