The Export and Investment Promotion Agency of the Republic of Azerbaijan - AZPROMO was established in order to promote exports and investments.
According to the Decree No. 1063 of the President of the Republic of Azerbaijan dated October 5, 2016, there are different mechanisms and support measures by the Ministry of Economy of the Republic of Azerbaijan in order to introduce the "Made in Azerbaijan" brand, as well as export-oriented products of Azerbaijani origin in foreign markets.
Regarding the mentioned support mechanisms:
Financing, organization and management of support measures are carried out at the expense of the state budget of the Republic of Azerbaijan.
Individuals and legal entities registered as taxpayers in the Republic of Azerbaijan as exporters of non-oil products of Azerbaijani origin have the right to use export support measures.
Products included in the 27th commodity group of the commodity nomenclature of foreign economic activity (mineral fuel, oil and their distillate (expulsion) products, bituminous substances, mineral waxes), as well as state-owned or whose shares (shares) are controlled by the state does not apply to legal entities (except for their representative offices and branches located in foreign countries).
According to the rules approved by the Decree of the President of the Republic of Azerbaijan No. 1063 dated October 5, 2016, exporters who will participate in export support measures will be selected on the basis of the competition established by the Decision of the Cabinet of Ministers of the Republic of Azerbaijan No. 470 dated October 31, 2018, or by the Ministry of Economy is selected according to the criteria approved by
In order to participate in support measures, exporters should apply to AZPROMO.
The amount of support paid to exporters in connection with their individual participation in an international exhibition or fair includes the costs of renting space at the venue of the exhibition or fair, preparing, designing and installing the stand, and transporting the products to be displayed. The amount of support is 50 (fifty) percent of the incurred expenses, not exceeding 10 (ten) thousand manats.
The application and the list of documents to be attached to it are determined by the "Rules for the organization and holding of the competition for the selection of exporters to participate in support measures" approved by the Resolution No. 470 of the Cabinet of Ministers of the Republic of Azerbaijan dated October 31, 2018. Depending on the type of support measure, the documents to be submitted include:
- application
- "Conditions for participation in the support measure"
- export customs related to export operations carried out within 365 days prior to the date of submission of the application copies of declarations (if any and not more than 5 (five) declarations)
- certificate (or certificates) obtained from the tax authority about the claimant's last one-year turnover and tax debt
- extract from the claimant's bank account (from the date of submission of the application indicating the operations carried out during the previous 365 days)
- if the application and the documents attached to it are submitted by the authorized representative of the claimant, a document confirming his/her respective authority.
If the claimant owes taxes to the state budget as of the date of submission of the application, the claimant will be excluded from the competition by the competition organizer, and he will be officially informed about this before the day of the competition.
Pursuant to subsection 165.1.3 of the Tax Code, goods (including goods acquired by foreigners and stateless persons in the territory of the Republic of Azerbaijan from taxpayers registered as sellers in accordance with Article 165.3 of this Code in accordance with Article 165.3 of this Code, not intended for production or commercial purposes goods) and export of services specified in Article 168.1.5 of the Tax Code is taxed at zero (0) rate.
It is possible to obtain the vector format of the "Made in Azerbaijan" trademark, as well as the user manual, by contacting the e-mail address of the Export and Investment Promotion Agency of the Republic of Azerbaijan - AZPROMO at office@azpromo.gov.az.
Tax incentives and other economic incentives are provided for investors who have an investment promotion document in Azerbaijan. In addition, enterprises operating in industrial parks and the Alat free economic zone can benefit from certain tax incentives.
Industrial parks located in Azerbaijan offer tax and customs benefits, infrastructure support and a favorable business environment for investors. These parks create wide investment opportunities mainly in chemical, pharmaceutical, technology, as well as other heavy and light industries.
After entrepreneurs send their investment projects through the http://invest.gov.az/en/page/contact-us section, the project is reviewed and the solution is answered according to the result.
Azerbaijan has investment opportunities in energy, agriculture, tourism, chemistry, mining, information technology, transport and logistics, light and heavy industry and other sectors. In order to develop these areas, various state support mechanisms are applied.
The interests of foreign investors in Azerbaijan are protected by legislation, international agreements and state guarantees. The Law "On Investment Activity" ensures the protection of the rights of foreign investors, that their investments will not be nationalized and subject to state definition, as well as that profits can be freely repatriated. In addition, Azerbaijan has signed agreements on the prevention of double taxation and mutual protection of investments with many countries.
