President Ilham Aliyev has ordered to establish a free trade zone in Alat, Garadagh District of Baku, including the territory of the new Baku International Sea Trade Port.
The decision was made in order to strengthen the country's position as a logistics and transport center.
The AR law "On special economic zones" was adopted in April 2009. The Alat special economic zone will be the first after the adoption of this law.
The Ministry of Economy is in charge of the six-month deadline to submit proposals in this regard. The proposals should also cover improvement of the legislation concerning special economic zones. To do this international consulting companies will be involved. Advice is also needed to determine the types and characteristics of entrepreneurial activity, to be undertaken in this area.
The Ministry of Ecology and Natural Resources, in cooperation with the State Committee for Property Affairs and the Executive Power of Baku city will determine the boundaries of the zone. They should address issues related to the land owners and users of the area. ----08D
Economics
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