BAKU, Azerbaijan, September 22. The rate of customs duties applied to imports of a number of raw and intermediate goods, the local production of which is not realized or is inefficient, will be reduced, as the Azerbaijani Ministry of Finance stated in the document "Preliminary indicators of the state and consolidated budgets for 2024", Trend reports.
The document notes that it is envisaged to reduce the rate of customs duties applied to the import of a number of raw and intermediate goods used in domestic production, or domestic production of which is not carried out or is inefficient, through the application of VAT and customs duty exemptions for the import of a number of fixed assets.
Moreover, Azerbaijan's foreign trade turnover increased by 1.12 percent, or $392.1 million, from January through August 2023 over the past year, from $35.1 billion to $35.5 billion.
