Export support mechanisms covers just non-oil sector

By Azernews

By Amina Nazarli

Mechanisms to support the export of Azerbaijani products will touch only goods produced in the non-oil sector of the economy.

Head of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Rufat Mammadov told reporters on October 6, adding that however, the entrepreneurs, who can benefit from these mechanisms, will face no restrictions.

President Ilham Aliyev signed a decree on October 5 regulating the procedure for determining the state support of exporters.

The decree specifies the “The rule of defining and regulating the mechanism of paying a part of the expenditures from state budget, organizing export missions to foreign countries, exploring foreign markets and marketing activities, promoting ‘Made in Azerbaijan’ brand on foreign markets, issuing certificates for local companies and patents in foreign countries for export, research programs and projects for development of export.”

“Export process is quite difficult. First of all, entrepreneurs should have competitive products. In order to ensure the development of production of competitive goods, the state will support the research programs and development programs in this sphere,” said Mammadov.

“At the same time, in order to promote the goods on foreign markets, we should study their export potential. The state plans to render support in this sphere as well,” he said.

Moreover, a number of mechanisms such as export missions, participation in international exhibitions and etc. are planned for advertising the products on foreign markets, Mammadov added.

A total of 3 million manats ($1.84 million) has been allocated out of the Azerbaijani President’s Reserve Fund in the 2016 State Budget in order to finance the support measures envisaged in the above-mentioned rule.

Azerbaijan is keen to penetrate widely in the international commodity markets with its products branded "Made in Azerbaijan". Today Azerbaijan outputs more than 250 kinds of home-made products in food, light, heavy and construction industries.