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Azerbaijan Introduces Export Subsidies for Non-Oil Sector

President Ilham Aliyev has signed a decree on further promotion of non-oil export in 2016-2020.

The decree, which entered into force on March 1, 2016, introduces the export subsidizing for the non-oil sector. The base amount of export subsidizing is set at 3% of customs (declared) value of the exported goods and is paid from the State Budget.

The Cabinet Ministers has been instructed to develop the rules for issuing export subsidies, a list of the commodity nomenclature for subsidies, and the coefficients for calculating the basic amount of subsidies depending on the type of goods. Subsidies will be part of the State Budget in the current year and in 2017-2020.

Source: ABC
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