A new bilateral trade agreement between the United States and Azerbaijan has facilitated an increase in exports of electrical transformers and static converters from the US to Azerbaijan, focusing on energy infrastructure development.
2023-10-15
Impact: Positive impact with potential growth in US exports of HS Code 8504 products to Azerbaijan due to reduced tariffs and streamlined customs processes.
Azerbaijan Increases Import of US-Made Electrical Transformers
Azerbaijan’s growing energy sector has led to a surge in demand for US-manufactured electrical transformers and inductors, with a reported 15% increase in imports under HS Code 8504 over the past quarter.
2023-09-22
Impact: Strengthens US export market share in Azerbaijan’s energy sector, likely increasing trade volume for electrical equipment.
US Company Secures Contract for Electrical Converters in Azerbaijan
A major US electrical equipment manufacturer signed a multi-million-dollar contract to supply static converters to Azerbaijan’s renewable energy projects, marking a significant trade milestone under HS Code 8504.
2023-08-10
Impact: Enhances long-term trade relations and boosts US exports of specialized electrical components to Azerbaijan.
Policy Updates
US-Azerbaijan Tariff Reduction on Electrical Equipment
The US and Azerbaijan agreed to reduce tariffs on electrical transformers, static converters, and inductors (HS Code 8504) by 10% to promote trade in energy-related equipment as part of a broader economic cooperation framework.
Date: 2023-10-01
Azerbaijan Updates Import Regulations for Electrical Parts
Azerbaijan introduced new import certification requirements for electrical equipment parts under HS Code 8504, aiming to ensure quality and safety standards, which may affect US exporters’ compliance costs.
