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Azerbaijan ready to reduce freight costs

Azerbaijan ready to reduce freight costs

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Date: 11 December 2015 15:47

Baku, Azerbaijan, Dec. 11

By Azad Hasanli –Trend:

Azerbaijani Ministry of Economy and Industry expects business proposals to reduce freight costs, said Sahil Babayev, Azerbaijani Deputy Minister of Economy and Industry.

He noted the importance of cooperation with the State Caspian Shipping Company in this direction.

One of the problems faced by exporters is the certification issue and I think we can make some changes relating certification, he said.

“Over the past 10 years the trade turnover of Azerbaijan has quadrupled, and the volume of investment in the country has exceeded $200 billion, of which 48 percent came from foreign investment”, he added. “For 10 months of 2015 Azerbaijan’s trade turnover amounted to $17.2 billion. Meanwhile, $7.4 billion of it accounted for import. At the same time 22 percent of non-oil exports accounted for Russia."

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