Interviews
UNDP to prop up AZPROMO - new Export Foundation
27 Jan '06
2 min read
United Nations announced that Mr. Marco Borsotti, UNDP (United Nations Development Programme) Resident Representative in Azerbaijan and Mr Emil Majidov, the President of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) signed a project document envisaging the strengthening of the capacity of the Foundation for export promotion.
The project will help formulate the Government's export promotion plan for developing the non-oil sector, establish an Export Information Centre (an agency to provide consultancy services to the existing and potential exporters), and in general, promote Azerbaijan as a trading partner and attract Regional Headquarters of Multinational Corporations to Baku.
The $110,000 first phase of the project will be implemented by AZPROMO within the coming 12 months. The initial support will be co-shared by United Nations Development Program ($ 50,000) and the Government of Azerbaijan ($ 60,000).
At this phase, the project, among other things, will conduct a survey to reveal the obstacles for business and export development in Azerbaijan and finalize a database of local producers, consultants and partners abroad.
The Azerbaijan Investment Promotion and Advisory Foundation (AIPAF) was established by the Government of Azerbaijan in 2003 and managed by the Board of Trustees, comprised of representatives from the government, private sector and international community.
The Foundation, aimed to attract Foreign Direct Investments to the country was empowered in 2005 with a mandate to promote local products to export also. Since August 2005, the Foundation was renamed to Azerbaijan Export & Investment Promotion Foundation (AZPROMO).
While being part of the Government's efforts to diversify the economy and develop regions and reduce poverty, the Foundation had received support from UNDP from the very beginning of its activity. The project is a logical continuation of the year-long “Project Assistance to AIPAF” managed by UNDP in 2004-2005.
The project will help formulate the Government's export promotion plan for developing the non-oil sector, establish an Export Information Centre (an agency to provide consultancy services to the existing and potential exporters), and in general, promote Azerbaijan as a trading partner and attract Regional Headquarters of Multinational Corporations to Baku.
The $110,000 first phase of the project will be implemented by AZPROMO within the coming 12 months. The initial support will be co-shared by United Nations Development Program ($ 50,000) and the Government of Azerbaijan ($ 60,000).
At this phase, the project, among other things, will conduct a survey to reveal the obstacles for business and export development in Azerbaijan and finalize a database of local producers, consultants and partners abroad.
The Azerbaijan Investment Promotion and Advisory Foundation (AIPAF) was established by the Government of Azerbaijan in 2003 and managed by the Board of Trustees, comprised of representatives from the government, private sector and international community.
The Foundation, aimed to attract Foreign Direct Investments to the country was empowered in 2005 with a mandate to promote local products to export also. Since August 2005, the Foundation was renamed to Azerbaijan Export & Investment Promotion Foundation (AZPROMO).
While being part of the Government's efforts to diversify the economy and develop regions and reduce poverty, the Foundation had received support from UNDP from the very beginning of its activity. The project is a logical continuation of the year-long “Project Assistance to AIPAF” managed by UNDP in 2004-2005.
United Nations
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