Shorouk Express
BAKU, Azerbaijan, March 4. Uzbekistan will also
apply the experience of Azerbaijan’s successfully implemented
agricultural insurance mechanism, a source in the Azerbaijani
Agricultural Insurance Fund told Trend.
According to the source, this topic was a key focus during the
visit of representatives of the Azerbaijani Ministry of Agriculture
and the leadership of the Agricultural Insurance Fund to
Uzbekistan.
In the course of the visit, the delegation, consisting of Fuad
Sadygov, Chairman of the Board of the Agricultural Insurance Fund,
and Zaur Aliyev, Advisor to the Minister of Agriculture, held
meetings at the Ministry of Agriculture, the Ministry of Economy
and Finance of Uzbekistan, and the National Agency for Perspective
Projects of Uzbekistan.
A meeting with the Deputy Minister of Economy and Finance of
Uzbekistan Akhadbek Haydarov, the head of the department Botir
Umonaliyev, and the Deputy Director of the Ministry of
Agriculture’s department Ilkhom Jurayev discussed applying the
agricultural insurance system experience of Azerbaijan in
Uzbekistan, based on the memorandum signed between the two
countries.
The cooperation in the field of agricultural insurance between
Azerbaijan and Uzbekistan and the implementation of Azerbaijan’s
experience were discussed in a meeting with the Deputy Chairman of
the National Agency for Perspective Projects of Uzbekistan
Vyacheslav Yuryevich.
The creation of a state-supported agricultural insurance
mechanism in Azerbaijan was initiated by the decree of the
President of Azerbaijan, Ilham Aliyev, dated August 19, 2019. This
decree enacted the “Agricultural Insurance Law” and established the
Agricultural Insurance Fund.
The agricultural insurance mechanism in Azerbaijan was created
based on the experience and support of Türkiye’s Agricultural
Insurance System (TARSIM). Through the agricultural insurance
system, crop farming, livestock farming, and fisheries can be
insured against numerous risks, including natural disasters.
According to the rules, 50 percent of the insurance premium is paid
by the state as support to farmers.
Since its inception, the scope and activities of the
Agricultural Insurance Fund have been expanding year by year.
Currently, approximately 25 percent of the country’s total
agricultural land, or 447,000 hectares, is insured through the
Agricultural Insurance Fund. Payments to farmers and agricultural
enterprises have been rapidly increasing, reaching 6.4 million
manat ($3.7 million) by the end of 2024, and these figures continue
to grow daily.
Azerbaijan’s successful agricultural insurance experience has
attracted the attention of neighboring countries, and discussions
are currently ongoing about implementing this experience in other
countries, including Uzbekistan.
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