Azerbaijan attracts world's largest port operator for FTZ creation [UPDATE]

By Azernews

By Rashid Shirinov

The Azerbaijani government and the group of companies DP Worlds (Dubai Port World – one of the world's largest port operators) signed an agreement to provide consulting services for the establishment of a free trade zone in Alat settlement of Baku.

The document was undersigned by Deputy Economy Minister Niyazi Safarov, Director General of Baku International Sea Trade Port Taleh Ziyadov and President of the DP Worlds group Sultan Ahmed bin Sulayem at the special ceremony on September 7.

President Ilham Aliyev signed a decree on March 17, 2016 on the measures to create special economic area of a free trade zone type in the Alat township of Baku's Garadagh district.

Azerbaijani Economy Minister Shahin Mustafayev, who addressed the meeting, noted that it is important to use Azerbaijan’s transit potential for ensuring the sustainable development of the country.

The minister said that Azerbaijan is thoroughly working in that direction and implementing significant projects.

While speaking about the transport projects, Mustafayev added that the practical implementation of the North-South project has been already launched.

The minister added that the first stage of the work has already started to build the Baku International Sea Trade Port.

The Minister noted the creation of a free trade area in the Alat settlement will also be discussed during the next meeting of the intergovernmental commission on trade-economic cooperation, Azerbaijan – UAE in November 2016.

Baku has everything necessary to become a focal point of Eurasia, Sultan Ahmed bin Sulayem noted during the meeting.

 “We want to turn Baku into a coordination center of Eurasia. We believe that you have the necessary components for this – high-tech and resources. And we have the experience. Combining all this we [DP World and Baku International Sea Trade Port] can become a single strong commercial structure,” he said.

“We want the commercial port not to be some kind of alternative for entrepreneurs, but become a necessity for businesses, as once we did in Dubai,” Ahmed bin Sulayem noted.