Economy

Azerbaijan eyes to significantly expand wine export

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Azerbaijan plans to expand the volumes and geography of wine export, Rufat Mammadov, president of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO), said March 2 at a joint event of AZPROMO and the National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan.

He said that presently Azerbaijan delivers wine mainly to Russia.

The head of AZPROMO noted that last year the value of Azerbaijani wine exports amounted to $6 million, which is 67 percent more than in 2016.

“The Chinese market is one of the most important directions for us,” he added. “This year, Azerbaijan’s wine house will open in Shanghai.”

He noted that about 60 percent of subsidies allocated as part of export promotion accounted for wine producers in Azerbaijan in 2017. In general, during the reporting period, Azerbaijani entrepreneurs received subsidies worth 3 million manats as part of the export promotion mechanism, he said.

(1.7001 manats = $1 on March 2)

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