12:20 - 1.04.2020

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April 1, Fineko/abc.az. I believe it’s necessary to increase the production of export-oriented products, continue the certification process in business entities, so that our products are competitive in both domestic and foreign markets.

ABC.AZ reports that the above-said statement was made by President Ilham Aliyev during his meeting with Economy Minister Mikayil Jabbarov.

According to the head of state, the fact is that the oil sector remains the main sector for Azerbaijani economy. However, other sectors are a priority for the development of the domestic non-oil economy.

President Aliyev pointed out that country’s consumption should be stimulated by domestic production. The president said that it is becoming more and more difficult to enter foreign markets from year to year: "As many countries have a policy of import substitution. Therefore, we must both look for new markets and make our products more competitive. At the same time, we must strive to provide the domestic demand with the local production to the large extent.

As for the coefficient of self-sufficiency, more accurate statistics should be kept in this area, as different governmental agencies present various figures to me. That’s why I give you a task to analyze the figures of all governmental agencies and report to me about the real situation, what is our self-sufficiency coefficient for basic consumer goods, and we’ll be able to forecast our policy more accurately. In particular, we’ll allocate funds and loans for those spheres that are still dependent on imports at the expense of the National Entrepreneurship Support Fund.

At the same time, when analyzing our exports and self-sufficiency opportunities, the percentage of the external component of goods produced in Azerbaijan must be taken into account, as in some cases a large share of foreign raw materials is obtained. The Ministry of Economy is actively working in these directions. I believe if we can properly organize all this work , and I have no doubt about it, we’ll be able to come out of this difficult trial with honor."