UN official: Azerbaijan can increase its annual exports by more than USD 1bln

Azerbaijan has the potential to increase its annual exports to more than 1 billion US dollars in the next 5 years.

Azernews reports that Vladanka Andreyeva, the resident coordinator of the UN in Azerbaijan, said this at the event on Non-tariff Barriers in Trade held in Baku.

"Over the past few years, Azerbaijan's exports have been constantly increasing, reaching 35 billion US dollars in 2022. At the same time, non-mineral exports have approximately doubled over the past five years. Azerbaijan has the potential to increase its annual exports to more than 1 billion US dollars in the next 5 years," she said.

"The International Trade Centre (ITC) remains committed to supporting Azerbaijan's export development and closer commercial integration with the EU and other Eastern Partnership (EaP) countries," said the UN Resident Coordinator in Azerbaijan.

"ITC (a joint agency of the UN and the World Trade Organization) is the only multilateral agency fully dedicated to the development of small and medium-sized enterprises (SMEs), with nearly 60 years of experience in providing trade-related technical assistance to developing countries and countries in transition. ITC remains committed to supporting Azerbaijan's export development and closer commercial integration with the EU and other EaP countries. Today's meeting is an important step towards identifying priority issues and collecting feedback on ways to overcome obstacles and facilitate cross-border trade," she added.