Azerbaijan's WTO membership to reduce dues charged for Azerbaijani products?

Foreign countries will not be able to pass unjust decision against Azerbaijani products once the country joins the World Trade Organization, international expert on WTO membership F. Farhad said at a seminar "Azerbaijan’s WTO admission and Press", which was held with the support of United States Agency for International Development (USAID).

According to the expert, the taxes and tariffs may decrease in Azerbaijan after the country is admitted to organization.

At the same time, dues charged for Azerbaijani products abroad will fall from 13% to 9%. The GDP will rise by 1.03% due to the rise in exports, the expert added.

Meanwhile, banks are also expected to cut interest rates roughly 5%.

According to Farhad, during theadmission process, any country defines "sensitive" products for its  economy. Azerbaijan presented about 70 "sensitive" products during the discussion which was disapproved by the WTO member countries. WTO admits no more than 10 "sensitive" products, which are important for the economy.


/APA/