Monday, 15 July 2024

Azerbaijan to incease non-oil exports by 2025 - Economy Minister

The Ministry of Economy of Azerbaijan, as in previous years, is faced with the task of sustainable economic diversification, said Azerbaijan’s Minister of Economy Mikayil Jabbarov at the conference ‘Tax system in the post-pandemic period’.

According to the minister, the goals are to expand non-oil exports and accelerate the development of this area.

“In this regard, it is planned to develop a concept that will contribute to the growth of non-oil exports. This national concept will expand both the coverage of sales markets and the range of export products,” Jabbarov said.

Azerbaijan exports over 120 types of products and the volume of non-oil exports are expected to double by 2025.

The state's approach is that the economic efficiency of incentive mechanisms should be increased, the minister said.