EU provides technical aid to Azerbaijan to create free trade zone
Baku, Azerbaijan, Nov. 22
By Maksim Tsurkov – Trend:
The European Union (EU) has started the project to provide technical assistance to the Baku International Sea Trade Port CJSC (aka Port of Baku) in the sphere of creation of a free trade zone (FTZ) in Azerbaijan, the Port of Baku said in a message Nov. 22.
The aim of the technical assistance is to provide the EU’s support to the Port of Baku on the creation of the FTZ, personnel training, holding trainings, as well as the use of European practice in the port’s operations.
Addressing the event dedicated to the project’s launch, the port’s Director General Taleh Ziyadov said that the port and the FTZ, which is being created, will have a serious impact on the trade turnover with the European countries.
“European companies, which specialize in the spheres of transportation, logistics, IT, agriculture, will be able to use the FTZ and create production clusters there in order to enter the big markets,” he noted.
The project’s implementation period is one year.
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.
In September 2016, the Azerbaijani government and Dubai Port World company (DP World, one of the world’s major port operators) signed an agreement on providing consulting services for the creation of the free trade zone in the Alat township.
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