Country to open wine house in Russia

14 June 2019 16:44 (UTC+04:00)

By Abdul Kerimkhanov

Azerbaijani winemaking is an important industrial branch of the agricultural industry. The country is taking measures for the promotion of Azerbaijani brands in the world markets.

Wine House of Azerbaijan will open in Yekaterinburg, Russia in July 2019, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said in a message.

Russia will be the second country where Azerbaijani wine houses will open. Currently, specialized wine houses of Azerbaijan operate in China.

AZPROMO also stressed that in the second half of 2019, it is planned to open the Wine House of Azerbaijan in St. Petersburg.

Russia is currently the main export market for Azerbaijani wine. Azerbaijan earned $7.6 million from wine export in 2018. Some 618,300 decaliters (an increase of 82.9 percent compared to 2017) worth $6.4 million (an increase of 29.8 percent) were exported to Russia.

In January-March 2019, Azerbaijan exported 101,870 decaliters of wine worth $1.5 million. The main share in the export of wine products fell to Russia. In particular, for the three months, 96,670 decaliters were exported to Russia (a decline of 15.9 percent compared to the first quarter of 2018) in the amount of $1.3 million (an increase of 10.7 percent).

The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) is a joint public-private initiative, established by the Ministry of Economy of Azerbaijan in 2003 with the aim to contribute to the economic development through attracting foreign investments and stimulating exports in the non-oil sector.

As a unique "one-stop shop" body, AZPROMO assist foreign-based companies interested in investigating and utilizing investment opportunities in Azerbaijan. Meantime, the company is the devoted partner of companies established in Azerbaijan looking to enter into foreign markets.

AZPROMO’s knowledge of foreign markets and applicable trade regulations along with a wide network of foreign representations and partners offer companies good opportunities to expand their export capacities.

AZPROMO has huge international networking capabilities. It is the member of the World Association of Investment Promotion Agencies (WAIPA) and currently, the company’s president holds WAIPA’s vice-presidency position. AZPROMO’s international offices in Georgia, Austria, Italy and China coordinated by the centre in Baku deliver services in a short period of time.

The company’s close relations with many international investment promotion agencies, chambers of commerce and other business promotion institutions have been maintained. AZPROMO have signed memorandums on cooperation and partnership with over 80 such organizations from 37 countries the world over.

---

Abdul Kerimkhanov is AzerNews’ staff journalist, follow him on Twitter: @AbdulKerim94 

Follow us on Twitter @AzerNewsAz