Number of companies utilizing inward processing for export activities increases by 77%

The adoption of the inward processing special customs procedure, which contributes to the development of industry and expansion of export activities, has yielded positive results, the Acting Minister of Economy, Mikayil Jabbarov, wrote on X, Report informs.

“Last year, compared to 2022, an 85% increase was recorded in the value of goods imported for inward processing for export purposes, and a 77% growth in the number of companies utilizing this procedure, as a result of improving and simplifying the relevant rules in this field,” Jabbarov said.

The adoption of the inward processing special #customs procedure, which contributes to the development of industry and expansion of #export activities, has yielded positive results. Last year, compared to 2022, an 85% increase was recorded in the value of goods #import-ed for… pic.twitter.com/PoYpu1NlJ8

— Mikayil Jabbarov (@MikayilJabbarov) February 16, 2024