President Ilham Aliyev expands financial support for Azerbaijani exporters
Trend | January 12, 2018- Buyers missions will be organized in Azerbaijan and up to 30,000 manats will be allocated for analysis of potential sales markets.
This is stipulated by Azerbaijani President Ilham Aliyev’s decree on making amendments to the "Procedure for determination and regulation of the mechanism of paying a part of the expenditures through the state budget, the organization of export missions to foreign countries, review of the situation in foreign markets and marketing activity, promotion of the ‘Made in Azerbaijan’ brand in foreign markets, obtaining certificates and patents in connection with exports, research programs and export development projects by local companies in foreign countries".
The amendments envisage the introduction of a new concept - buyers missions. Buyers missions are organized for purchase of Azerbaijani non-oil products by a foreigner who is engaged in the import of goods or their distribution.
Only 10 people can join a buyers mission and the period of their stay in the country must not exceed six days. In each mission only one person can represent a buyer.
The Azerbaijani Ministry of Economy covers the expenses of the buyers mission members’ stay in the country, which also include the fee for rental premises where meetings are held, fees for translation services, as well as fees for transportation within the country (except for taxi).
According to the decree, the amount given to legal entities and individuals for the analysis of foreign markets increases from 20,000 manats to 30,000 manats.
Moreover, the number of export missions, which can be organized with participation of Azerbaijani entrepreneurs during one calendar year, increases from 10 to 25. The number of international fairs and exhibitions, in which Azerbaijani businessmen can take part during one calendar year by using one exhibition stand, increases from 5 to 10.
Entrepreneurs who take part in international exhibitions and fairs on individual basis will receive financial support in the amount of 50 percent of all expenses necessary for participation, including rental fee, exhibition stand costs, transportation fee and others. The maximum amount of such support must not exceed 10,000 manats. Up until now, only 30 percent of expenses not exceeding 5,000 manats have been covered.
At the same time, exporters will be able to apply for support to obtain an international certificate from Feb. 1 within 60 days annually.
The cost of support must not exceed 60,000 manats and must account for no more than 50 percent of the total expenses.