Details added (first version posted on 11:23)
Baku, Azerbaijan, June 8
By Anvar Mammadov – Trend:
Expertise of the draft law “On Free Trade Zone (FTZ)” in Azerbaijan will be completed soon, the country’s Economy Minister Shahin Mustafayev said.
He was giving speech June 8 at the EU-Azerbaijan Business Forum in Baku.
“The master plan of the FTZ, its feasibility study, as well as the draft law “On Free Trade Zone” are ready,” Mustafayev noted. “A special commission has been set up to carry out the expertise of legal framework, and the commission should soon submit a final version of the draft law to Azerbaijan’s leadership.”
The free trade zone covering the territory of the Baku International Sea Trade Port in the Alat township of Baku’s Garadagh District is being created in accordance with a decree signed by Azerbaijan’s President Ilham Aliyev March 17, 2016.
Mustafayev added that the volume of cargo transportation through the Baku International Sea Trade Port grew 23 percent in January-April 2017.
“The volume of oil transportation increased by 21 percent and non-oil – by 35 percent in January-April 2017 as compared to the same period of 2016,” he said. “Moreover, the volume of road freight increased by 46 percent.”