TODAY.AZ / Business

International Bank to support exporters

19 August 2019 [16:16] - TODAY.AZ

By Azernews

By Leman Mammadova

Increasing the country's export potential, particularly in the non-oil sector, is one of the main tasks in the development of the national economy.

The Center for Analysis of Economic Reforms and Communication starts cooperation with International Bank of Azerbaijan (IBA). The joint cooperation issues were discussed during a meeting held between the Center and the Bank.

In particular, the opportunities for joint cooperation between IBA and, EnterpriseAzerbaijan, “Single Window” Export Support Center, and Digital Trade Hub were discussed at the meeting.

Vusal Gasimli, Executive Director of the Center for Analysis of Economic Reforms and Communication, noted that the main purpose of the cooperation proposal is support to the development of the non-oil sector, digital economy and export business in the country.

In turn, Nijat Asadli, Manager of the Digital Trade Hub of Azerbaijan, gave detailed information on the role of e-services offered by the portal in the development of digital economy, and noted that Azerbaijan, for the first time in the world, provided e-residency to non-residents.

At the meeting, the sides discussed the provision of IBA’s factoring, letter of credit, export insurance and other financial services to exporters during export of “Made in Azerbaijan” products to many countries within the framework of joint cooperation of portal with the IBA.

In addition, Oruj Dursunzade, manager of EnterpriseAzerbaijan portal, which is another project of the Center for Analysis of Economic Reforms and Communication, stressed the portal’s impetus for the development of small and medium-sized businesses.

The meeting also discussed broad opportunities for exporters, provided by "Single Window" Export Support Center, operating under the Center for Analysis of Economic Reforms and Communication.

Abbas Ibrahimov, Chairman of the Board of the IBA, emphasized the role of the projects implemented by the Center in the development of the country's economy, and noted that cooperation between the IBA and the Center will be established in the near future.

The objective of the Center for Economic Reforms Analysis and Communication is to develop proposals for realization of economic reforms based on analytical data by conducting analyses and researches on macro and micro-economic levels directed to ensuring sustainable economic development of Azerbaijan.

Another objective is to prepare mid- and long-term forecasts, provide government authorities and agencies with them and organize promotion of the achievements made by Azerbaijan in various sectors of the economy.

The "Single Window" Export Support Center, established in 2017, provides support to entrepreneurs in obtaining various state certificates, permits and other documents: veterinary and phytosanitary certificates, certificates of origin, quality, permission to export species of wild fauna and flora on the verge extinction, evidence of the protection of cultural property and permission to export religious literature.

The Center also supports entrepreneurs in obtaining international certificates, export permits, and assists in financial and customs issues, as well as in transport and logistics.

The total volume of exports of Azerbaijani products through the “Single Window” system in January-July 2019 amounted to $71.8 million.


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