A delegation from the Alat Free Economic Zone Authority (AFEZ Authority), led by Chairman of the Board Mr. Valeh Alasgarov, paid a visit to the Republic of Korea to promote investment opportunities in the Alat Free Economic Zone (AFEZ). The visit, organized with the support of the Embassy of Azerbaijan in the Republic of Korea, included a series of high-level meetings and a business forum aimed at deepening cooperation with Korean manufacturing companies and key business associations.
The centerpiece of the visit was the business event titled “Alat Free Economic Zone: Unlocking the Potential for Korean Manufacturing Companies,” held in Seoul. The event brought together representatives of Korean businesses, prominent industry associations, and other stakeholders interested in exploring the advantages offered by AFEZ.
In his opening remarks, Ambassador of Azerbaijan to the Republic of Korea, Mr. Ramin Hasanov, highlighted the dynamic trade relations between the two countries, noting that Korea remains Azerbaijan’s principal trading partner in the South Caucasus.
Mr. Valeh Alasgarov, Chairman of the Board of the AFEZ Authority, delivered the keynote address, emphasizing the unique legislative framework of AFEZ, its attractive fiscal and non-fiscal incentives, strategic location, and availability of industrial land plots with modern infrastructure and utilities. He invited Korean companies to take full advantage of the investment opportunities offered by AFEZ.
The event concluded with productive B2B meetings and networking sessions between Azerbaijani and Korean business representatives.
As part of the official program, Mr. Alasgarov held a series of bilateral meetings with influential Korean trade and investment institutions. He met with Mr. Jihyung Lee, Executive Vice President of the Korea Trade-Investment Promotion Agency (KOTRA), where he outlined the business-friendly environment of AFEZ. Mr. Lee expressed strong interest in AFEZ and affirmed KOTRA’s willingness to explore collaboration, particularly in promoting Korean investment in the Zone.
The AFEZ delegation also met with Mr. Kim Gi-Hyun, Vice President of the Korea International Trade Association (KITA). Mr. Alasgarov provided a comprehensive overview of the legal and infrastructural advantages offered by AFEZ. Mr. Kim noted that KITA members interested in entering European and broader regional markets would likely see AFEZ as an attractive gateway and stressed the importance of continued cooperation to attract Korean companies.
Additionally, Mr. Alasgarov met with Mr. Yun Wok Sok, Commissioner of the Incheon Free Economic Zone (IFEZ) Administration. During this exchange, both sides shared valuable insights and experiences related to the development and management of free economic zones, laying the groundwork for potential collaboration and knowledge exchange.
