Measures taken to strenghten the export potential of Azerbaijan

Export’s significance for prosperity of the economy and general welfare of the people is obvious and we once again witnessed it when oil prices dropped. We partially could overcome these difficulties due to the state policy, pursued earlier. As Mr. President has emphasized, the only way to deal with this kind of difficulties and not face them again in the future is to diversify the export-oriented economy. In recent years, the state has carried out serious work in this field and, in particular, in the direction of the agricultural export. Today we witness a sharp increase in the agricultural potential of the country over the shortest time. We have been among those companies which greatly contributed to development of the export-oriented economy of the country, and continue our work in this direction today. However, the main point that I would like to stress is formation of new business ways for export.

Today, new business areas, particularly in the field of technology, have more opportunities to grow into an international company in the short term. However, the path chosen by us here is a little bit different: instead of working directly with an innovative business area, for more than a year we have been supporting young specialists, who try to get involved in this work. One of the main goals of “Baku Business Factory” which was established by me a year ago, is to support export-oriented start-ups and share our experience and knowledge for their further entering on the international markets. Thus, we not only achieve more active involvement of talented young people in this work but also indirectly attract more human capital to work in the export direction, and support formation of the tradition in this field. Notably, coming together, these young people form this tradition, support and encourage one another. To date, five member projects of our center have a strong export potential and the teams are now seriously working in this direction that, in turn, is another satisfying factor for me. Two of these projects have already managed their activities abroad. In the coming months we will develop new proposals for increasing our support and expanding range of services currently provided by us to our member projects, preparing for export.

“Baku Business Factory” is a business incubation center, founded by me in May 2015 in order to support business initiatives of young people as well as develop their business habits. Currently, 20 various business projects operate in the center.

For more information, you can use the link