Azerbaijan's annual non-oil exports to reach $5B by 2025

Azerbaijan plans to increase the annual volume of non-oil exports to $5 billion by 2025, Yusif Abdullayev, head of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), said, Report informs.

“We have 15 target markets for non-oil exports. We participate in international exhibitions and fairs, are represented by a single-country system, and present domestic non-oil products under the Made in Azerbaijan brand. The main objectives of the national export strategy are to create a new export promotion culture and to export local products to a wider geography. We also intend to support export financing instruments. If we successfully implement this strategy, we can consider the creation of Exim Bank in Azerbaijan in the future,” he said.

The head of AZPROMO also said that there are plans to produce the first sparkling wines in Azerbaijan in the second quarter of 2023.

“At the same time, the import of the best Abrau-Durso sparkling wines of various price categories from Russia has started. We provide curation of the Russian investors and support for the implementation of their business initiatives,” Abdullayev added.