UN says Azerbaijan has potential to increase its annual exports by over $1B in coming years

Azerbaijan has the potential to increase its annual exports by more than $1 billion in the next five years, said UN Resident Coordinator in the country Vladanka Andreeva.

She made the remarks while speaking at an event on “Non-tariff barriers to trade” in Baku on Wednesday, News.Az reports.

“Azerbaijan's exports have been steadily increasing in recent years, and reached $35 billion in 2022. Non-mineral exports nearly doubled over the past five years,” the UN official said.

According to her, improving the efficiency of internal export procedures and enhancing the quality of infrastructure are necessary to strengthen Azerbaijan's position as a key exporter for the region and the European Union.

“Improving access to information on trade requirements and procedures – not only for goods but also for services – is a key factor in the development of Azerbaijan's exports. The assessment by the International Trade Center (ITC) has shown that the export of Azerbaijani services in the IT and tourism sectors is thriving and will benefit from creating a favorable business environment,” Andreeva added.

News.Az 

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