Azerbaijan's Non-Oil Exports Enter New Era As U.S. Takes Center Stage

(MENAFN- AzerNews) Akbar Novruz Read more

In 2024, Azerbaijan's non-oil and gas exports saw a slight increase of 0.3% compared to the previous year, reaching 3.4 billion US dollars. The Center for Analysis of Economic Reforms and Communication shared this information, noting the consistency of Azerbaijan's top four export markets. However, a new addition to the fifth position- the United States- marks a notable shift in the country's trade patterns.

To understand this development and its potential for growth, Azernews interviewed Aykhan Gadashov, head of the Azexport portal, operated by the Center for Analysis of Economic Reforms and Communication.

- The countries in the top four for Azerbaijan's non-oil exports have remained relatively consistent. However, the fifth position often changes. Do you think the US will be able to maintain its position in Azerbaijan's non-oil export list?

- Over recent years, we've seen an increase in the demand for Azerbaijani products in the US. This is the result of a combination of marketing and communication campaigns, as well as global factors like geopolitical events and globalization. Looking at the figures from January to October of last year, the main products exported to the US included aluminum in raw form (rectangular plates, sheets, strips made of aluminum alloys with a thickness of more than 0.2 mm) worth 25.5 million US dollars, ferrosilicon alloys (ferrosilicon alloys containing more than 55% silicon by mass) worth 4.5 million US dollars, and mineral or chemical nitrogen fertilizers worth 1 million US dollars. Additionally, items like olive oil, sturgeon caviar, fruit juices, canned fruits, vegetables, cookies, and wafers also saw strong export performance.

- Can Azerbaijan further increase its exports of non-oil products to the US? What other products can we potentially export to the US?

Over the years, US distribution companies have become increasingly interested in Azerbaijani products. The Azexport portal has played a key role in this development, facilitating meetings and presentations with numerous US companies dealing with items such as cookies, wafers, canned fruits, frozen and dried fruits, and carbonated or non-carbonated fruit juices and mineral water. The portal also organized visits for US representatives to meet with Azerbaijani producers, which has helped to foster this growing interest. At the same time, meetings and tours of local manufacturers were organized for U.S. companies. The visit also investigated the potential for establishing a foreign-invested, export-oriented enterprise in the country. The next stage aims for the importing company to manufacture its products in Azerbaijan for the U.S. market.

- Can you share which other countries in the Americas Azerbaijan could target for non-oil exports?

- Azerbaijani goods are now showcased around the clock on up to 15 online platforms such as Amazon, eBay, and Alibaba, thanks to Azexport's efforts. These platforms allow millions of people to view Azerbaijani products, creating more visibility and awareness. While some viewers directly place orders, many are becoming familiar with these products' availability. Information has become the most valuable tool in today's world, and understanding market trends is crucial. Digitalization and globalization have made it essential for businesses to access real-time data on product demand, pricing, and market trends. In this regard, we encourage entrepreneurs to work closely with Azexport and stay informed about the latest developments. This growing presence on international platforms and the targeted efforts by Azexport indicate a strong future for Azerbaijan's non-oil exports, particularly in the US and other markets in the Americas.

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