Azerbaijani President Ilham Aliyev signed a decree "On additional measures to stimulate the export of non-oil goods". The document provides for the granting of a special incentive mechanism of export goods in the years 2016-2020, funded by the national budget.
The size of export promotion will depend on the share of locally produced components and form of the non-oil products exported. The size of this promotion will be at least 3 percent of the customs value of goods.
The Cabinet of Ministers is ordered within a month to approve the rules of export promotion and the list of goods for which it will be applied, as well as the coefficients applied to the basic export promotion.
The decree came into force on the date of its signing and will be valid until December 31, 2020.
Note that in different countries many forms of direct and indirect export promotion are practiced. Azerbaijan has chosen the indirect support to exporters.
Experts note that the list of goods subject to export promotion should not include products of extractive industry in Azerbaijan, including iron ore and gold. -----08D
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