(MENAFN- AzerNews)
By Zara Araz
Azerbaijan is making a significant investment in its
agricultural sector through newly introduced concessions, aimed at
enhancing the accessibility of modern agricultural equipment. This
strategic move is part of a broader initiative to modernize
agriculture and increase productivity in the country.
The recent changes were formalized through an amendment to the
"Rules for Using the Funds of the Agrarian Credit and Development
Agency under the Ministry of Agriculture." This amendment was
enacted by a decree from President Ilham Aliyev and outlines
several key concessions.
One of the most impactful aspects of the decree is the 60
percent discount on the customs value of imported agricultural
equipment. This discount specifically applies to modern irrigation
systems that are produced locally, thus reducing the overall cost
for farmers and agricultural businesses.
The Ministry of Economy has established specific criteria for
the application of these discounts. This ensures that the
concessions are targeted and that only equipment meeting certain
standards qualifies for the reduced customs rates.
The discount amount is covered by the state budget of
Azerbaijan. The Agrarian Credit and Development Agency will oversee
the disbursement of these funds, ensuring that the discounts are
effectively implemented and that the equipment is made accessible
to local agricultural producers through relevant organizations.
By significantly reducing the cost of modern irrigation systems,
these concessions aim to make advanced agricultural technology more
accessible to Azerbaijani farmers. Modern irrigation systems are
critical for improving water efficiency and crop yields, especially
in regions where water scarcity can limit agricultural
productivity.
Access to modern equipment is expected to enhance overall
agricultural productivity. As farmers adopt more efficient
irrigation systems, they can achieve higher crop yields and better
manage their water resources. This, in turn, could lead to
increased agricultural output and potentially boost the sector's
contribution to the national economy.
The focus on locally produced equipment aligns with the broader
economic goals of fostering domestic industries. By incentivizing
the use of locally manufactured systems, the policy supports local
manufacturers and helps stimulate economic activity within the
country.
The introduction of these concessions reflects a long-term
commitment to agricultural development in Azerbaijan. Modernizing
agricultural practices and infrastructure is crucial for building a
resilient and sustainable sector capable of meeting future
challenges, such as climate change and increasing food demands.
The new concessions for agricultural equipment represent a
significant step forward in Azerbaijan's efforts to modernize its
agricultural sector. By making advanced technology more affordable
and accessible, the government aims to enhance productivity,
support local industries, and promote sustainable agricultural
practices. As these measures take effect, they are expected to
drive positive changes across the agricultural landscape and
contribute to the sector's growth and development.
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