A mechanism of agricultural insurance has been officially launched in Azerbaijan with state support, QİA.AZ reports citing the Azerbaijani Ministry of Agriculture.
Azerbaijani Minister of Agriculture Inam Karimov met with a delegation from the Turkish Ministry of Agriculture and Forestry and the Turkish Agricultural Insurance Union (TARSIM) in the administrative building of the Agricultural Insurance Fund.
During the meeting, the parties exchanged views on the introduction of agricultural insurance mechanism in Azerbaijan and the formation of an insurance mechanism based on the experience of Turkey.
“Then an event was held on the signing of the first insurance contract with state support. The event was attended by Inam Karimov, representative of the Ministry of Agriculture and Forestry of Turkey Bekir Engurulu, Head of the TARSIM Serpil Gunal, officials of the Central Bank of Azerbaijan (CBA), the Agricultural Insurance Fund, farmers and entrepreneurs,” said the message.
Speaking at the event, Karimov said that thanks to successive reforms carried out in the agricultural sector under the leadership of Azerbaijani President Ilham Aliyev, as well as state support for farmers and investors, the agricultural sector has become one of the fastest growing sectors of the economy.
“The agricultural insurance system in Azerbaijan was formed with the support of the Turkish TARSIM (agricultural insurance system). One of the most successful agricultural insurance mechanisms in the world is the Turkish model. Through agricultural insurance, farmers will be able to insure farm animals, crops and crop products, as well as aquaculture against risks on preferential terms,” the message said.
“Currently, the agricultural insurance mechanism is another manifestation of the state’s support for the agricultural sector. We believe that this support will improve the well-being of farmers. Agricultural insurance mechanisms will increase investment in this industry,” said the message.
Bekir Engurulu, a member of the TARSIM Board of Trustees, a representative of the Turkish Ministry of Agriculture and Forestry, noted that agricultural insurance will facilitate access to finance for farmers through insurance of their risks and create conditions for more sustainable development of agriculture.