Some enterprises in the Alat Free Economic Zone will be granted a 15-year customs benefit

50% of products manufactured in the Alat Free Economic Zone (FEZ) will be exempt from customs duties for 15 years, provided they are exported.

As reported by Oxu.Az, this issue was reflected in the draft amendments to the law "On Customs Tariff," which was brought up for discussion at today's plenary session of the extraordinary session of the Milli Majlis.

The draft specifies that provided at least 50% of the volume of goods of Azerbaijani origin, fully produced or sufficiently processed in accordance with the processing criteria by a free zone legal entity in the Alat FEZ — the list of which is approved by commodity nomenclature of foreign economic activity by the body (structure) designated by the relevant executive authority — is exported outside the country, the import from the Alat FEZ into the main economy, in the manner established by the body (structure) designated by the relevant executive authority, shall be exempt from customs duties for a period of 15 years from the date of establishment of the free zone legal entity that produces or processes the goods.

If the draft is adopted, the benefits will take effect from January 1, 2027.

As a result, the draft was put to a vote and adopted in the first reading.