Importing spare parts for bicycle production exempted from customs duty
By Sara Israfilbayova
Azerbaijan’s Cabinet of Ministers exempted the import of spare parts used for the production of bicycles from payment of customs duties for a period of 2 years.
The related amendments were made to the decision of the Cabinet of Ministers "On the rates of customs duties on export-import operations in Azerbaijan."
The decision will take effect from July 22, 2017.
A bicycle production factory "İSMA BİKES" was opened in Azerbaijan in summer 2016.
The plant is built on the territory of the village of Diyalli, located in 6 kilometers from the city of Ismayilli. The production capacity of the enterprise is 20,000-30,000 bicycles per year.
The plant is expected to manufacture 5 categories of bicycles ranging from bikes for children and recreational cycling, to those used by professional riders.
Previously, the Cabinet exempted from customs duties the import of fuel oil used by Azerenergy for electricity production. The decision will be valid until January 1, 2018.
In late 2016, the Azerbaijani government made several changes to the import procedures of certain goods to protect the domestic production.
The changes applied to meat and edible meat offal (fresh, chilled and frozen poultry meat), eggs, vegetables (cucumbers, tomatoes, onions, garlic), fruits and nuts (walnuts, hazelnuts, grapes, apples, pears, quinces, persimmons), fruit and vegetable juices, alcoholic and non-alcoholic beverages (mineral and soda water), construction materials (bentonite, gypsum, cement, clinker), stone, plaster, cement, asbestos (slabs, bricks, building blocks) and ceramic products.
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