BAKU, Azerbaijan, October 21. The European Union proposes Azerbaijan to establish Export Mentorship Network to support exporters in accessing new markets, reads the "Trade Study Report – Trade Sector Development in Azerbaijan: Policies, Constraints and Opportunities", issued by the EU.
The report shows that non-oil exports have increased in recent years.
"However, non-oil exports remain concentrated in a limited number of product groups and markets. Therefore, it would be beneficial to implement policies that aim not only at increasing export volumes, but also at expanding product diversification, increasing the number of high-value-added products and entering new markets. The report also shows that exporters face various challenges related to accessing foreign markets, obtaining market information, and establishing business connections. In contrast, the results show that in 2023, Azerbaijan exported products to 121 countries, which represents about 60% of the countries in the world. To this end, it would be beneficial to establish an "Export Mentorship Network" or "Export Mentors brings" that brings together exporters with successful experience in non-traditional markets (such as Southeast Asia, the Gulf countries, Africa, and Latin America)," reads the report.
Furthermore, the report authors believe that the introduction of targeted tax incentives and other supportive measures for companies exporting to new markets or introducing new products to international markets could be considered.
Moreover, the report says that increasing exporters’ awareness of certification requirements and conformity procedures and expanding practical training and information mechanisms would also be beneficial. Expanding practical training, advisory services, andinformation mechanisms in this area could also support businesses in adapting to the requirements of developed markets, such as the EU countries.
