BAKU, Azerbaijan, December 21. The development of Azerbaijan's Alat Free Economic Zone (AFEZ) has two main goals: to boost economic development by attracting investment and to support the development of enterprises that can operate on preferential conditions in this zone, Chairman of the Board of AFEZ Authority Valeh Alasgarov said, Trend reports.
He made the remark during a panel speech at the Azerbaijan-Türkiye Investment Forum.
"We are fostering favorable conditions for the effective development and expansion of businesses in the Baku International Sea Trade Port area. We are extremely glad to welcome Turkish enterprises to the Alat Free Economic Zone, particularly those producing high-value-added products," Alasgarov noted.
He stressed that enterprises that develop export-oriented items and operate in conformity with global standards are given preference.
The official further stated that the AFEZ contains three zones with constructed infrastructure: 206 hectares, 433 hectares, and 211 hectares.
"We plan to establish an airport with a cargo terminal in this zone, which, along with maritime transportation, will address all logistical issues," he added.
The Azerbaijan-Türkiye Investment Forum started in Baku today.
The forum will explore opportunities for expanding Azerbaijani-Turkish cooperation in various fields, and investment agreements and cooperation agreements will be signed.
More than 600 representatives from government institutions and the private sector from both countries are participating in the event.
The forum is featuring panel sessions covering investment, trade, agriculture, defense industry, green energy, and health tourism sectors.
Stay up to date with more news on Trend News Agency's WhatsApp channel