A business forum on the topic of “Alat Free Economic Zone – New cooperation opportunities in Azerbaijan-China economic relations” was held in Beijing, China. In the event, jointly organized by the Embassy of Azerbaijan in China, Alat Free Economic Zone Authority and the China Chamber of Commerce for Import and Export of Machinery and Electronic Products (CCCME), participated more than 100 Chinese companies.
Akram Zeynalli, the Ambassador of Azerbaijan to People’s Republic of China, delivered an introductory speech on the development of economic relations between Azerbaijan and China, and informed the participants about the economy of Azerbaijan, including the growth of the non-oil sector, as well as the increase in investments into different sectors of the country.
Following the introductory speech by the Ambassador, Zhang Yujing, the President of CCCME, talked about the wide cooperation opportunities between Azerbaijan and CCCME, and stressed that, the member companies of the Chamber and the Chinese investors will be provided with information about the established favorable business environment in Alat Free Economic Zone (AFEZ).
As the keynote speaker, Valeh Alasgarov, the Chairman of the Board of the Alat Free Economic Zone Authority, made a detailed presentation about the AFEZ and noted that, the AFEZ is one of the important parts of the general policy of Government of Azerbaijan, which aims to ensure the balanced development of the knowledge-based, diversified, export-oriented and internationally competitive economy. He gave information about the fiscal and non-fiscal incentives package for the investors, as well as about the strategic geographical location, industrial land plots with ready-to-use off-site and on-site infrastructure and utilities, and transport-logistics centers. Mr. Alasgarov highlighted the unique legal framework, which is based on the “Law of the Republic of Azerbaijan on the Alat Free Economic Zone” adopted by the Parliament and signed by the President of Azerbaijan as a prevailing law of the Republic of Azerbaijan and internal regulations of the AFEZ issued by the AFEZ Authority, that are integral part of the AFEZ legislation. The Chairman stated that, the businesses engaged in high-value added export-oriented manufacturing and internationally traded services, using innovative technologies and approaches to work, in accordance with best international standards, are welcome in the AFEZ, and invited the Chinese investors to get acquainted with the outstanding business environment offered by the AFEZ.
The business forum was concluded with a Q&A session.