Digital Trading Node to appear soon

By Azernews

By Amina Nazarli

Digital Trading Hub will start its activity in Azerbaijan in the near future, Head of the Center for Analysis of Economic Reforms and Communications Vusal Gasimli told reporters on June 30.

The presentation of Digital Trade Hub was held in Baku with the support of the Center for Analysis of Economic Reforms and Communications and the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan.

It is necessary to make certain amendments to the existing legislation so that the Hub operates in full capacity. We hope that this will be done as soon as possible,” he said.  

He noted that the Hub will function in several directions and the procedure for issuing electronic signatures and ASAN signature to non-residents of Azerbaijan is also considered.

"This will enable non-residents in Azerbaijan, after receiving the electronic signature and ASAN signature, to carry out operations to open LLC, bank accounts, hire employees, and perform export-import operations,” he stressing that the Hub will make the economy of Azerbaijan more open

The Center will play a big role in attracting foreign investments and expanding trade relations of Azerbaijan, according to Gasimli.

“The Hub will also provide an opportunity to create an electronic wallet, which will allow foreign partners not to experience difficulties in making settlements. Another important detail is that it will act as an electronic single window for export. That is, any Azerbaijani exporter, without leaving the office, will be able, through a computer or mobile device, to undergo all the necessary procedures related to documentation and registration for export of products,” he said.

When creating the Hub the best practices of Great Britain, Estonia, Malaysia and other countries, as well as leading technologies were used.

Azerbaijan is set to strengthen its position as a Digital Trade Hub and expand its foreign trade operations. A relevant decree was issued by President Ilham Aliyev on February 23.

Under the decree, the Center for Analyses of Economic Reforms and Communications has been tasked with creation of a new section ‘Digital Trade Hub of Azerbaijan’ at its export promotion portal azexport.az, which has already made Azerbaijani production available to potential buyers from anywhere in the world.

Besides, the Centre will also introduce new systems of e-registration of export contracts, export support and customs escort online for domestically produced non-oil products. The portal will also comprise an e-purse for cashless payment.