Draft law on Azerbaijan’s FTZ to be presented to parliament until late 2017

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    Trend:

    A draft law on the creation of a free trade zone (FTZ) in Azerbaijan will be submitted to the country’s parliament until late 2017, Taleh Ziyadov, director general of Baku International Sea Trade Port CJSC (Port of Baku), told reporters in Baku.

    He reminded that in 2016, an agreement was signed with Dubai Port World (DP World) company, which has completed all the work and presented the draft law to the Azerbaijani government.

    “An important factor in the successful operation of the FTZ is the legal regime. A draft law was prepared, and Azerbaijan’s President Ilham Aliyev signed a decree on the creation of a working group headed by Vice-Speaker Valeh Alasgarov in order to coordinate it and conduct the state expertise. The process of coordination and examination will continue within three months, and I hope that by the end of this year this draft law will be submitted to the Azerbaijani parliament,” added Ziyadov.

    He also noted that the meeting with Turkish Ambassador to Azerbaijan Erkan Ozoral, who visited the port in Alat, where he became acquainted with conditions, was held in a positive way.

    Ziyadov said that the figures for transshipment of trucks through the Baku International Sea Trade Port are growing.

    “In 2016, a 100-percent growth was demonstrated in the number of trucks as compared to 2015, and about 23,000 trucks were sent from Turkey to Central Asia and vice versa. During the four months of this year, we have already sent more than 10,000 trucks in both directions. This is a very positive trend, and we hope that it will continue,” added 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.