Azerbaijan eyes to help entrepreneurs connect to global value chains

  04 March 2018    Read: 1479
Azerbaijan eyes to help entrepreneurs connect to global value chains

Azerbaijan intends to help entrepreneurs connect to global value chains, a source in the Azerbaijani government told Trend.

"To this end, the government is developing a new program, as part of which three main directions may be distinguished," the source said. "Firstly, we want to help establish the supply of Azerbaijani intermediate products to global producers. We are already negotiating with big foreign companies. For example, oil companies purchase uniform for their employees. Azerbaijan manufactures such products and we want companies to buy it from us. If a foreign company produces electric locomotives, we might supply cables necessary for their production."

"The second direction involves attracting investments for the manufacture of intermediate products in Azerbaijan," the source noted. "For example, a local Azerbaijani company produces furniture and needs a number of components that aren’t produced in the country. We want to attract investors so that they start producing those components in Azerbaijan."

The third direction involves working with foreign investors who already operate in the Azerbaijani market, the source added.

"We want to expand the use of Azerbaijani products by local companies," the source said. "Of course, we aren’t going to force anyone to buy local products. However, often foreign companies simply don’t know that the products they buy abroad are manufactured in Azerbaijan as well. Using local products is also beneficial for foreign companies, because they can cut their expenses, since the imports of goods and services are more expensive than purchasing local products."

Cooperation with foreign companies allows Azerbaijani business to raise its level of work to international standards, according to the source.

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