Deputy minister: New incentives and financial instruments should be introduced in agriculture

Support systems in Azerbaijan's agriculture should be reviewed, Deputy Minister of Economy Samad Bashirli told a panel discussion titled "Overview of agribusiness development in Azerbaijan" organized within the framework of the 4th Agribusiness Development Forum held in Baku, Report informs.

The deputy minister noted that for the future development of agriculture, along with existing support mechanisms, new incentives and financial instruments should be applied.

He emphasized that, in addition to fiscal incentives, it is important to strengthen logistical support for the export of products to foreign markets, as well as insurance and institutional cooperation:

"Our incentive system should take climate challenges into account, and water use should focus on efficiency and innovation."

Bashirli added that agricultural policy should focus on sustainability rather than productivity.

The deputy minister said climate change makes changes in agricultural policy inevitable: "So far, the main focus has been on increasing productivity and crop abundance. But in the future, the main goal should be sustainability and resource conservation. Drought-resistant crops and efficient use of water should come to the fore."