Revival of export subsidies in Azerbaijan could be a significant boost for businesses

The reintroduction of export subsidies in Azerbaijan could provide a much-needed lifeline for entrepreneurs, said Savas Uzan, the Chief Executive Officer of Azersun Holding, who spoke at the Azerbaijan Trade Forum in Baku, according to Report.

He noted that until recently, Azerbaijan offered export incentives ranging from 3% to 6% of the product's value to stimulate the export of non-oil and gas sector goods. "The amount may seem small, but for entrepreneurs, it's a significant sum," Uzan emphasized. "If we want to be competitive in foreign markets, we need to consider such issues."

Uzan highlighted the crucial role of exporters, stating that they not only sell products but also ensure the inflow of foreign currency into the country.

Uzan also mentioned that Azerbaijan is preparing to introduce logistical subsidies for businesses.