Azerbaijan’s free trade zone to start work in 2017

Azerbaijan’s free trade zone (FTZ) will start to operate in 2017, Taleh Ziyadov, director general of the Baku International Sea Trade Port CJSC, told reporters May 22.

He made the remarks on the sidelines of the second meeting of sister ports within the Cooperation Council of Turkic Speaking States (Turkic Council) in Baku.

Ziyadov noted that Azerbaijan’s concept regarding the development of the Silk Road contributes to the strengthening of competitiveness and the creation of additional value of goods.

“For example, if a cargo container is sent to Europe, our concept is to process the cargo in the FTZ in Alat, create additional value and export further. In short, the Azerbaijani concept of the Silk Road is more innovative and aims to create added value in the non-oil sector. As for the FTZ, it will work this year,” said the director general.

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.
(Trend.az)