Azernews.Az

By Nigar Abbasova

Since Azerbaijan is keen to promote non-oil sector of the economy, the state places emphasis on the implementation of certain mechanisms, required for the expansion of manufacturing capability of entrepreneurs.

Head of the office at the Azerbaijan Agriculture Ministry Ilham Bayramov said that the creation of the Food Procurement and Supply Company in Azerbaijan will give a huge impetus to the improvement of the well-being of the population residing in rural areas, mentioning that the mechanism will support both the quality and volume of locally produced agricultural output.

The company, which serves state-owned enterprises, such as hospitals, schools, prisons, was established with the authorized capital of 100,000 manats ($61,680). The main purpose of the organization is the purchase of food from the manufacturers and sellers at sites, their preparation and further transfer to procurement organizations.

Besides, the recent decision on the creation of a single database of locally produced goods will provide for transparency in the sphere. The database contains thorough information about domestically produced goods and their manufacturers, including legal address, contact, production opportunities, and partners.

Barramov said that the system allows producers to add data about their production. Agriculture Ministry will then consider the options and forward the information to the company, which in turn will conclude deals with producers.

Representative of the company Khalig Mammadov said the company may soon open new wholesale and retail markets in the country, as its charter allows the creation of such markets. The markets are expected to open in large cities and provide the population with more affordable production.

Moreover, the company may also implement interventions in the foodstuff market of the country to prevent artificial overpricing.

Mammadov said that the company will also create state funds on foodstuff reserves, which will implement supplies increasing offer in the market, should the market faces the problem of overpricing.

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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