Azernews.Az

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.

“Azerbaijan stands in the center of energy routes,” the minister said. “The Baku-Tbilisi-Ceyhan (BTC) oil pipeline and the Baku-Tbilisi-Erzurum (BTE) gas pipeline, originating from Azerbaijan, and construction of Trans-Anatolian Pipeline and Trans-Adriatic Pipeline increase the country’s significance. Moreover, the country’s potential as an international logistics center and a transport corridor also increases.”

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

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

“Among the operations in the east-west direction, I would like to stress the development of shipping, railways, forthcoming completion of construction of the Baku-Tbilisi-Kars (BTK) railway,” he added.

“At the same time, significant actions are taken to construct the North-South transport corridor,” he said. “Corresponding talks are being held with neighboring countries.”

“A railway is being constructed as part of the North-South project,” the minister said. “The railway will run up to the border with Iran by late 2016. A railway bridge over the Astarachay River will also be built.”

Mustafayev added that in the future a railway will be built up to the Persian Gulf, which is a significant action to increase the transit potential of Azerbaijan as part of the North-South transport corridor.

The Minister further 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.

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Rashid Shirinov is AzerNews’ staff journalist, follow him on Twitter: @RashidShirinov

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