Open­ing of Trade House in Dubai post­poned

Azer News - - Nation - By Le­man Mam­madova

The open­ing of Trade Houses is one of the im­por­tant ac­tiv­i­ties car­ried out within the ex­pan­sion of the ex­port of Azer­bai­jani prod­ucts and pro­mo­tion of the ‘Made in Azer­bai­jan’ brand.

The Trade House of Azer­bai­jan in Dubai was set to open on Jan­uary 10. The open­ing of the Trade House was post­poned in­def­i­nitely, Azer­bai­jani Trade Rep­re­sen­ta­tive in Dubai El­nur Aliyev told Trend.

He noted that the open­ing of the Trad­ing House was post­poned for tech­ni­cal rea­sons.

El­nur Aliyev had ear­lier told Trend that a spe­cial in­for­ma­tion of­fice will op­er­ate in the Trade House of Azer­bai­jan, where any­one can get de­tailed and in­ter­est­ing in­for­ma­tion on Azer­bai­jan, in par­tic­u­lar on tourism.

The open­ing of the Trade House will con­trib­ute to in­creas­ing ex­ports of non-oil prod­ucts to the UAE, pro­mot­ing Azer­bai­jani goods and ex­pand­ing bi­lat­eral trade be­tween the two coun­tries, Aliyev said.

The first Trade House of Azer­bai­jan opened in Minsk, Be­larus cap­i­tal in 2017. At present, trade houses are op­er­at­ing in Rus­sia, Ukraine, Be­larus, Latvia, Poland and China. It is planned to open up to 10 Com­mer­cial Houses in 2019.

Azer­bai­jani Trade House to be es­tab­lished in Dubai aimed at pro­mot­ing “Made in Azer­bai­jan” brand to pro­mote lo­cal prod­ucts and in­crease ex­ports.

Re­cently, Azer­bai­jani ex­port mis­sion has been sent to UAE to study the trade op­por­tu­ni­ties in De­cem­ber 2018.

Ex­port mis­sions are a sup­port­ing mea­sure to iden­tify op­por­tu­ni­ties for ac­cess­ing new mar­kets, strengthen lo­cal prod­uct po­si­tions in ex­ist­ing mar­kets and pro­vide these mar­kets with new prod­ucts.

Dur­ing 2018, ex­port mis­sions to Rus­sia, Switzer­land, China, Kaza­khstan, Mon­go­lia, Turkey, Bul­garia, Ger­many, UAE and Saudi Ara­bia have al­ready been sent.

As many as 25 ex­port mis­sions are ex­pected to be or­ga­nized in 2019. Lo­cal en­trepreneurs will par­tic­i­pate in ma­jor trade fair in Rus­sia, UAE and Ger­many in Fe­bru­ary. The new mar­ket at which Azer­bai­jan aims is South Ko­rea, Azer­bai­jan will be par­tic­i­pat­ing in the food fair there in May 2019.

The ex­port of non-oil prod­ucts will stim­u­late the ex­pan­sion of the Azer­bai­jani prod­ucts and will fur­ther strengthen the non-oil sec­tor's share in the struc­ture of the GDP, which is the main goal of the coun­try's lead­er­ship.

The diplo­matic re­la­tions be­tween Azer­bai­jan and UAE were es­tab­lished on Sep­tem­ber 01, 1992.

The two coun­tries en­joy good op­por­tu­ni­ties for mu­tual in­vest­ments, joint im­ple­men­ta­tion of var­i­ous projects, in­clud­ing agri­cul­tural sec­tor, as well as for the cre­ation of joint ven­tures, es­pe­cially in tourism sec­tor. They agreed to es­tab­lish a joint in­vest­ment fund in 2016.

UAE in­vested $2.1 bil­lion in Azer­bai­jan, of which $1.3 bil­lion was in­vested in the oil sec­tor, while $806 mil­lion - in the non-oil sec­tor of the coun­try. Azer­bai­jan, in turn, has in­vested $330 mil­lion in the UAE.

At present, about 300 UAE com­pa­nies are op­er­at­ing in Azer­bai­jan.

Ac­cord­ing to the Azer­bai­jani State Cus­toms Com­mit­tee, the trade turnover be­tween Azer­bai­jan and the UAE amounted to $48.84 mil­lion in Jan­uary-Novem­ber 2018, which is 50.8 per­cent more com­pared to the pre­vi­ous year. Azer­bai­jan's ex­ports to the UAE amounted to $19.16 mil­lion (an in­crease of 31 per­cent), while im­ports reached $29.68 mil­lion (an in­crease of 67.1 per­cent).

Azer­bai­jan mainly im­ports high­tech prod­ucts, elec­tron­ics, in­dus­trial goods and build­ing ma­te­ri­als from the UAE and ex­ports to the UAE fruits, juices, nuts, metal semi-fin­ished prod­ucts and so on.

Azer­bai­jan will soon ex­port hazel­nuts to UAE. Thus, Azer­bai­jani com­pany "Khan-El" op­er­at­ing in Za­gatala and the "Haghanyat Gen­eral Trad­ing" of the UAE signed an agree­ment on the ex­port of hazel­nut prod­ucts.

The Azer­bai­jani com­pany can build a huge build­ing in the form of fish in the UAE. Azer­bai­jan's Kar­vanL Group in­tends to im­ple­ment a bril­liant "Fish Cen­ter" project in UAE. A 3-storey build­ing, that will be built di­rectly in the Gulf, will cover fish res­tau­rants, shops and oth­ers.

Azer­bai­jan is in­ter­ested in es­tab­lish­ing joint ven­tures with UAE es­pe­cially in the fields of in­dus­try, lo­gis­tics and trans­port.

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