Azerbaijani deputy economy minister talks on work to increase non-oil exports

In order to make non-oil products competitive in Azerbaijan, legal regimes are being considered, preferential trade agreements are being signed with various countries, and free markets are being discussed, Deputy Minister of Economy Elnur Aliyev said at the Human Resources Summit 2023 in Baku on June 21, Report informs.

He stressed that last year non-oil exports exceeded $3 billion: “The process continues with increasing dynamics. The main goal is to achieve the goals related to the non-oil sector specified in the State Strategy for 2022-2026.”

This year Azerbaijan exported non-oil products worth $1.465 billion. In May alone, the value of non-oil exports amounted to $278.25 million, which is 25.8% more than a year ago.

Over the past five years, Azerbaijan’s non-oil exports amounted to $11.3 billion.