Azerbaijan to create FTZs at borders with neighboring states
Baku, Azerbaijan, Nov. 16
By Maksim Tsurkov – Trend:
Azerbaijan is considering opportunities to create free trade zones (FTZs) at the borders with neighboring countries in the future, said Zaur Hasanov, advisor to director general of the Baku International Sea Trade Port (Port of Baku).
Hasanov made the remarks Nov. 16 at the Infrastructure, Power and Renewable Energy Investment Conference in Baku.
He noted that the implementation of such projects will substantially increase the volume of freight traffic through Azerbaijan and is an integral part of the process of turning the country into an international logistics hub.
“It is too early to specifically talk about these projects. Firstly, the creation of the free trade zone around the Port of Baku has to be completed and it has to be launched,” said Hasanov. “This project’s success will give us a base and experience, and we will be able to turn to our neighbors with proposals to create free trade zones at the borders, for example, with Iran or Russia.”
This will significantly facilitate the freight traffic in the region and allow increase the cargo turnover, added Hasanov.
Answering a question of Trend reporter, he said no specific proposal on the issue has been received yet.
“These are the projects for the future,” added Hasanov.
Azerbaijan’s President Ilham Aliyev signed a decree March 17, 2016, on measures to create a free trade zone type special economic area covering the territory of the Baku International Sea Trade Port in the Alat township of Baku’s Garadagh district.
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