Azerbaijan to establish Alat Free Economic Zone in Garadagh

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Azerbaijan’s President Ilham Aliyev has signed the Decree “on the establishment and organization of the Alat free economic zone”, the president’s website reported on May 22.

According to the decree, the Alat Free Economic Zone (Free Zone) and the authorized body of the Free Zone have been founded.

The lands located in the administrative territory of Garadagh district of Azerbaijan have been identified as the territory of Alat free economic zone. The temporary administration of the Alat free economic zone has been abolished.

On the same day, under other presidential order, Valeh Alasgarov has been appointed Chairman of the Board of the Alat Free Economic Zone. It should be noted that he was appointed chairman of the temporary management body of the Alat free economic zone on 25 November of the last year until the formation of the authorized body of the Alat free economic zone and its Board.

Thus, Baku International Sea Trade Port CJSC must submit the drafts of normative legal acts necessary for the inclusion of the allocated territory in the territory of Alat free economic zone to the president within three months.

“The Cabinet of Ministers will take necessary measures to purchase the lands specified in the land management plans in accordance with the requirements of the Law of Azerbaijan “On Acquisition of Lands for State Needs”. Upon completion of the acquisition of lands for state needs, it will submit to the President of Azerbaijan together with the relevant land management plans proposals on the transfer of lands specified in the land management plans in Annexes 1-3 to this Decree to the competent authority of the Free Zone with one-time, gratuitous and permanent use”, the decree reads.

The Free Zone Authority must submit its proposals to the president within fifteen days to determine the organizational structure of the Free Zone Authority.

“Furthermore, central and local executive authorities, public legal entities established on behalf of the state and legal entities whose controlling stake is owned by the state must ensure that the Free Zone relevant authority is provided with the necessary assistance in resolving issues arising from this Decree”, the decree reads.