BAKU, Azerbaijan, February 16. Starting this year, Azerbaijan will provide state subsidies to cover logistics costs for exporting goods to the United Arab Emirates (UAE), said Yusif Abdullayev, executive director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), at the Azerbaijan-UAE food and agriculture business roundtable in Baku, Trend reports.
“We intend to encourage our companies, as well as our partners from the UAE, to find ways to import Azerbaijani products. We understand that certain challenges exist—not problems, but some difficulties. One of the main obstacles is logistics, and in some cases, costs can be relatively high. However, we have already discussed alternative routes and methods for transporting products to and from the UAE. Starting this year, Azerbaijan will introduce subsidies to cover logistics costs. I am confident that this mechanism will change company approaches and increase Azerbaijan’s exports,” Abdullayev said.
He highlighted that the subsidy is exclusive to new markets and will not extend to traditional markets.
“For example, exporting Azerbaijani tomatoes to the Russian Federation will not receive subsidies. Our goal is to encourage companies to diversify, find new markets, and promote growth there. I believe this mechanism will certainly benefit our companies,” said the official.
AZPROMO was founded in 2003 by the Ministry of Economy of Azerbaijan to facilitate foreign investment in the non-oil industry and promote exports of non-oil products. The agency's primary objective is to enhance the nation's economy by soliciting international investment and fostering exports in the non-oil sector. To date, the agency has conducted 33 export trips to international destinations under the "Made in Azerbaijan" initiative.
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