Azerbaijan, Baku, April 23 / Trend /
Leyla Abdullayeva, an expert of the Trend Analytical Centre.
Creation of free economic zones (FEZ) in Azerbaijan is the main task of integration of national economy to world economy. The project and functioning of zones are implemented through international experience and in accordance with the requirements of the European Economic Community.
Experience of free economic zones in different countries showed that they may become a factor of growth in a region and resolve a number of economic challenges, such as the use of the zone as a gateway between the domestic economy and world markets, development of new forms of management, creating favorable conditions for economic activities of domestic and foreign entrepreneurs.
Creation of free economic zones allows to solve social and economic challenges: decrease the poverty and unemployment. Free economic zones in Azerbaijan will have a serious influence to accelerate the integration processes, use of innovation constituent in the real sectors of economy and in the sphere of IT and tourism.
Azerbaijan becomes an attractive country for foreign investments in the sphere of tourism through economic free zones thanks to its geographic location and location of FEZ close to sea ports and other international traffic centres. Azerbaijan's most regions, which have vivid nature and ancient monuments of culture, need infrastructural development so that to receive more tourists.
Privileges of the national legislation on FEZ are also very attractive for foreign investors. Under the legislation, residents occupied with business will pay taxes in the sum of 2 percent of turnover. VAT residents will pay zero rate and will be exempted from paying customs fees.
Turkey's experience in creation of free economic zones is very successful given country's 1987 law on FEZ. which advanced the Mersin and Anatolia cities as famous tourism centres. In 1990, the Aegean FEZ in Izmir and Istanbul zone were opened. In 1002, a FEZ was opened in Trabzon, in 1993 -in Adana, in 1994-1995 -in Erzrum and Mardin. There are twenty free economic zones in Turkey.
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