​Expert: Presidential decree to stimulate entrepreneurship in Azerbaijan - OPINION

Baku. 23 October. REPORT.AZ/ Increasing of amount of duty-free importation of goods in Azerbaijan has two objectives: development of small and medium-sized businesses and the reduction of inflation, said the Report expert economist, former Deputy Economy Minister, Oktay Hagverdiyev.

President Ilham Aliyev signed a decree according to which individuals may bring in goods for personal use up to 10,000 USD without payment of customs duties.

"The very decree directly aimed at improving the development of entrepreneurship in the country, i. e. entrepreneurs have an opportunity to enhance their activities", said Hagverdiyev.

In addition, he pointed out that such a move could create the conditions for limiting the rise in prices. "That is, the more products we have, the lower prices get", he added.

"In the end, we killed two birds with one stone: stimulating business growth and limiting inflation", said the expert.

According to him, the main source of revenues is namely small and medium businesses in developed countries.

"For example, the US GDP is 17 trillion USD. 60% of GDP account for small and medium business, but we do not even hold 20% " - said the economist.

The former minister said that even such giants as General Motors, use the services of small enterprises, which produce a variety of parts for the car companies.

Hagverdiyev said that this process is time-consuming: "All these taken measures are not designed for lightning-fast results, this is a long-term process", he concluded.