Some intermediary goods exempted from customs taxes in Azerbaijan – deputy minister

This year, Azerbaijan exempted around 300 intermediate items utilized in local manufacture from import duties, Azerbaijan's First Deputy Economy Minister Elnur Aliyev said, Trend reports. He spoke at the Customs Business Forum 2023 (GBF23) held in Baku. He stated that a key aspect of enhancing the business environment in Azerbaijan is upgrading the economy's customs and taxation systems. Elnur Aliyev underlined that the government's active use of fiscal instruments to boost the attractiveness of the investment climate provides a positive push to the entire process. In recent years, significant steps have been taken to provide business entities with accessible customs instruments and rational customs procedures, as well as the introduction of electronic declaration and green corridor release systems, and new innovative customs technologies are yielding positive results. "About 300 intermediate commodities utilized in domestic manufacture were spared from import tariffs this year. This step was critical in lowering the cost of domestic production and enhancing the competitiveness of exports and domestic goods in foreign markets. I'd want to point you that this process is still underway, and our government has plans to take a lot of further actions. Legislative drafts, for example, have been prepared and are currently being discussed in order to improve export settlement rules, protect local production and meet its raw material needs, and reliably provide the population with a number of essential consumer goods that rely on imports. The conversation is being held in collaboration with the appropriate authorities," he added. Source: Trend News Agency