Free trade zone may be launched in Baku next year

Baku. 21 November. REPORT.AZ/ Free trade zone may be launched within Baku Sea Trade Port CJSC (Baku Port) in 2017.

Report informs, general director of Baku Port Taleh Ziyadov told. According to him, construction works in port’s territory are expected to be completed by the end of 2017.

“At present, the works focused on “ro-ro” and ground freight terminal. It is realistic to expect that free trade zone will start to operate by mid-2017”, T.Ziyadov added.

Notably the free trade zone within the port will embody facilities for various industry sections; segments of light industry will be given priority.

First of all, warehouses and value adding spaces will be located on the site. T. ZIyadov noted that small production facilities of pharmacy, oil chemistry, light industry will be created in next stage.

Talking about works towards creation of legislative basis of free trade zone, T. ZIyadov told that the process launched in March of this year by respective order of President Ilham Aliyev is underway: “In September of this year agreement was signed with Dubai’s DP World company. We intend to submit appropriate documents to government by the year-end. Master Plan of free trade zone will be developed within first two months of the next year”