BAKU, Azerbaijan, May 27. The Ministries of Economy and Finance of Azerbaijan have developed a pilot project to stimulate Azerbaijani exporters and logistics companies to enter new markets, an informed source in the government told Trend.
“The two ministries have collaborated on a proposal to the Cabinet of Ministers, suggesting state subsidies for up to 75 percent of cargo transportation costs to new markets for a period of five years. This initiative aims to encourage Azerbaijani goods to enter markets like the Persian Gulf countries, Japan, South Korea, and the United States, which have been challenging for Azerbaijani exporters due to high logistics costs,” the source said.
According to the source, implementing a partial subsidization mechanism is poised to bolster both local exporters and logistics companies in Azerbaijan. This proposition has garnered unanimous approval across all transportation and logistics associations in the country.
"Implementing such a mechanism could potentially bolster the supply of Azerbaijani products in traditional markets. The subsidy might target logistical sectors burdened by high transportation and storage expenses," the source highlighted.
Once greenlit by the government, the partial subsidization scheme for Azerbaijani exporters' logistics may commence operations as soon as 2024.
