BAKU, Azerbaijan, July 15. The agreement between the Baku International Sea Trade Port and the Turkish Albayrak Holding Company will enhance Azerbaijan's transit potential, Director-General of Baku International Sea Trade Port Taleh Ziyadov said at a signing ceremony of the Memorandum of Understanding (MoU) with Turkish Albayrak Holding on July 15, Trend reports.
According to him, the document is aimed at increasing mineral fertilizers' transit through the Port of Baku.
"The launch of the new port terminal will provide for additional workplaces. Currently, the transshipment of mineral fertilizers is conducted by the major cargo terminal, whereas the launch of the new terminal is expected to boost the transshipment and the overall cargo flow," Ziyadov said.
In accordance with the agreement and the Baku port's development strategy, one of the port terminals, to be commissioned in the first half of 2023, will be managed by Albayrak Group to strengthen the public-private partnership.