BAKU, Azerbaijan, Feb. 4
By Eldar Janashvili – Trend:
The cumulative growth of export of non-oil products has exceeded 55 percent in Azerbaijan over the past three years, Vusal Gasimli, Executive Director of the Azerbaijani Center for Analysis of Economic Reforms and Communication, told Trend on Feb. 4.
Gasimli was answering a question about realizing the country's export potential of non-oil products.
“As a result of state programs devoted to the socio-economic development of the Azerbaijani districts over the past 16 years, export of non-oil products increased by 5.2 times given the overall export growth at 7.6 times,” Gasimli added. “Furthermore, foreign trade turnover increased by 6.4 times.”
“The country's export of non-oil products grew by 24 percent in 2017, by 10 percent in 2018 and by 14 percent in 2019,” the executive director said. “In accordance with the strategic roadmaps, export of non-oil products is currently aimed at increasing from $200 per capita to $450 in 2025. In other words, starting from this year, it is necessary to increase export of non-oil products by 15 percent annually.”
“The demand for import in the Azerbaijani economy averaged $1,000 per person. To maintain the balance of import, Azerbaijan currently exports the products worth $2,000 per capita, 90 percent of which are oil and gas with a gradual decrease in value added and price fluctuations,” the executive director said.
“Consequently, the growth of export of non-oil products is of strategic importance for economic security and macroeconomic stability,” Gasimli said. “At the same time, the growth of export of non-oil products is important in terms of quality, rather than quantity; in other words, from the point of view of generated profit.”
“The development of a new strategy for export of non-oil products until July 2020 is envisaged in the Plan of measures to ensure the fulfillment of the tasks arising at the meeting of the Cabinet of Ministers dedicated to 2019,” the executive director said.
"The export support policy has successfully covered all three spheres of the world practice, namely, standard trade, the concept of global value chains and cluster approach," Gasimli added.
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