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Azerbaijan vests Ministry of Economy with new powers – decree

BAKU: Additional authority has been bestowed upon Azerbaijan's Ministry of Economy, Trend reports. The issue was reflected in a decree "On a number of issues related to the use of the system of registered exporters of the European Commission by Azerbaijan" signed by President of Azerbaijan Ilham Aliyev. According to the decree, the Ministry of Economy is the sole authorized body responsible for issuing exporter registration confirmation codes for the use of the Registered Exporter System (REX) of the European Commission and responses to inquiries from member states of the European Union, as well as Norway and Switzerland, regarding the provision of tariff preferences unilaterally under the Generalized System of Preferences (GSP) and performing other related tasks within this framework. The Cabinet of Ministers of Azerbaijan was tasked with resolving issues arising from this decree. The Ministry of Economy was tasked with approving the rules for issuing exporter registration confirmation codes and respondi ng to incoming inquiries as stipulated by this decree within a four-month period. The ministry was also required to inform the President of the Republic of Azerbaijan accordingly and take necessary measures to address other issues stemming from this decree. Additionally, the decree tasked the Foreign Ministry with notifying the member states of the European Union, Norway, and Switzerland about the designation of the Ministry of Economy of Azerbaijan as the sole authorized body as per this decree. Source: Trend News Agency