ORDER OF THE PRESIDENT OF THE AZERBAIJAN REPUBLIC

of October 23, 2004 No. 468

About additional measures in the field of expansion of leasing in the agrarian sector

Implementation of reforms in the agrarian sector, including land reform, liquidation of kolkhozes and sovkhozes and free distribution among rural population of all property belonging to them, liberalization of prices for products, privatization of the companies processing agricultural products and other measures gave serious impulse to dynamic development of this sector. In previous years 3 million 500 thousand citizens having the right of free receipt of land share received the state act granting the property right to the earth. Debts of the liquidated kolkhozes and sovkhozes, the privatized state companies for the total amount more than 100 billion manats were written off. Projects on supply of farmers with different agricultural machinery are performed. For the purpose of increase in production of agricultural products and acceleration of development of entrepreneurship in this area producers of agricultural products till January 1, 2009 are exempted from all taxes, except the land tax.

Now one of the major forthcoming tasks in the agrarian sector is connected with improvement of supply of the producer with necessary agricultural machinery, cultivation of high-quality products and ensuring its collection without loss. "The state program of social and economic development of regions of the Azerbaijan Republic approved by the Presidential decree of the Azerbaijan Republic of February 11, 2004 No. 24 (2004-2008)" provides with respect thereto adequate measures.

For the purpose of ensuring flexible regulation of questions of supply of the agrarian sector with the modern equipment and acceleration of execution of the measures provided by the State program I decide:

1. Charge to the Ministry of Economic Development of the Azerbaijan Republic to create Agroleasing Open joint stock company which controlling stake on preliminary stage for 100 percent belongs to the state.

2. Ceased to be valid.

3. Charge to the Cabinet of Ministers of the Azerbaijan Republic:

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