![Head of State Customs Committee on Electronic Customs Declarations and Pests](https://turan.az/resized/./turan-750-500-resize.webp)
Head of State Customs Committee on Electronic Customs Declarations and Pests
At today's conference on the development and prospects of the customs system, organized by the American Chamber of Commerce (AMCHAM) in Azerbaijan, the head of the State Customs Committee of Azerbaijan Aydin Aliyev told about the ahead of schedule introduction of electronic customs declarations before the allotted two-month period (the head of state signed the decree on March 3).
According to him, this is due primarily to the establishment of e-government. Speaking on the revision of the high customs tariffs, Aliyev said that this will affect not imported, but local finished products.
The head of the Committee drew attention to the causes of reduction in imports of cigarettes by 6 times and the hidden contraband. According to him, the reason for the low rate is the permit on the import of up to 600 (3 blocks) of cigarettes. However, many small traders violate the rule, according to which, the right to import apply to non-commercial use. "Many residents of the border with Russia, Georgia and Iran several times a day cross the border, delivering the allowed amount of tobacco products, not formally breaking the law. But this situation is detrimental to both the domestic tobacco market, and revenues to the state budget of Azerbaijan," he said. --17D-
Economics
-
Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
-
According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
-
The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
-
"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
Leave a review