New foreign company plans to enter local market

8 August 2019 12:30 (UTC+04:00)


By Mirsaid Ibrahimzade

More foreign companies consider Azerbaijani market attractive for their exports due to favorable business environment in the country and rising demand for different products.

Sri Lanka’s Wichithra company is searching for ways to organize export deliveries of its production to Azerbaijan.

Azerbaijan Export and Investment Promotion Foundation (AZPROMO) has informed that Wichithra is a food producer from the South Asian island country which is looking for importing partners from Azerbaijan.

The company produces superior quality low temperature vacuum dehydrated Sri Lankan vegetables, fruits and medicinal herbs. Company’s products, having a shelf-life of over one and half years, are considered as the best dehydrated agro products in Sri Lanka.

Exports, which commenced in 2004, have expanded to sixteen countries. The products are supplied directly as well as through major export companies to Australia, Canada, the U.S., Germany, France, Switzerland, Sweden, New Zealand, Singapore, Japan, South Korea, the UAE and other countries.

The company’s main export operations are carried out by the Sri Lanka Export Development Board (EDB) which is Sri Lanka's apex organization for the promotion and development of exports, established in 1979.

The goal of EDB is to provide assistance and create opportunities for Sri Lankan companies to expand their business internationally, thereby increasing export sales and employment prospects in the region. EDB’s staff offers consultative services to small- and mid-sized businesses located throughout Sri Lanka. EDB also sponsors and co-sponsors educational seminars and training programs designed for exporters and potential exporters in the region.

Azerbaijan Export and Investment Promotion Foundation (AZPROMO) is an analogue of EDB.

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.

It assists foreign-based companies interested in investigating and utilizing investment opportunities in Azerbaijan. Moreover, 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.


Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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