BAKU, Azerbaijan, July 8. It's more profitable for China to manufacture products for Europe in Azerbaijan, the Chairman of the Board of the Alat Free Economic Zone (AFEZ) Valeh Alasgarov said, Trend reports.
He made the remark during a conference on promoting logistics and trade in Azerbaijan - a demonstration zone of the Shanghai Cooperation Organization (SCO).
“Manufacturing products in Azerbaijan's Alat FEZ, and exporting them to Europe is more profitable for China,” he explained.
Alasgarov emphasized that this approach will allow China to avoid additional transport costs and take advantage of the benefits and opportunities of the AFEZ.
“Of course, it is necessary to further develop the Middle Corridor through investment. The location of the free zone in this corridor is not accidental. We will be glad to see Chinese companies in Azerbaijan,” he pointed out.
In addition, the chairman of the board said that a delegation from China visited the AFEZ, where they were introduced to the advantages of the free zone.
To note, the AFEZ contains three zones with constructed infrastructure: 206 hectares, 302 hectares, and 211 hectares. Construction of an airport started in the zone.
At the initial stage, all construction activities are carried out on an area of 60 hectares.
Customs facilities have already been installed at the entrance to the FEZ to optimize logistics operations.
The upcoming phase of development will focus on designing facilities for standard manufacturing plants, logistics centers, and heavy industrial plants in designated areas totaling 349 hectares.
Fiscal and non-fiscal benefits and simplified administrative procedures will be applied to investors.
Direct connection of the FEZ with maritime infrastructure will allow for the development of the transit and logistics capabilities of Azerbaijan.
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