Baku, Azerbaijan, July 8. According to Trend reports, Valery Allasgarov, chairman of the board of directors of the Alat Free Economic Zone (AFEZ), said it was more profitable for China to produce products for Europe in Azerbaijan.
He made the remarks at a meeting on logistics and trade promotion in Azerbaijan, a pilot zone of the Shanghai Cooperation Organization (SCO).
“It is more profitable for China to produce products in Azerbaijan’s Alat FEZ and export them to Europe,” he explained.
Alasgaroff stressed that this approach would allow China to avoid additional transportation costs and leverage the benefits and opportunities of the AFEZ.
“Of course, it is necessary to further develop the Central Corridor through investment. It is not by chance that a free trade zone is located in this corridor. We would be happy if Chinese companies came to Azerbaijan,” he noted.
The Chairman also said that a Chinese delegation visited AFEZ and was introduced to the benefits of the free trade zone.
For reference, AFEZ has three zones with infrastructure built on 206 hectares, 433 hectares and 211 hectares. The airport construction has started in these zones.
In the initial phase, all construction activities will take place on a 60-hectare site.
Customs facilities are already in place at the entrance to the FEZ to optimize logistics operations.
The next phase of development will focus on designing facilities for standard manufacturing plants, logistics centers and heavy industry plants in a designated area totaling 349 hectares.
Investors are provided with financial and non-financial benefits and simplified administrative procedures.
Direct connection of FEZ with maritime infrastructure will develop Azerbaijan’s transport and logistics capabilities.
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