2024-07-09 00:19:04
It is more profitable for China to produce products for Europe in Azerbaijan.
As reported on Monday by Day.Az with reference to Trend, this was stated by the Chairman of the Board of the Alat Free Economic Zone (FEZ) Valeh Aleskerov during a conference on the promotion of logistics and trade in Azerbaijan – a demonstration zone of the Shanghai Cooperation Organization (SCO).
“Production of products in Azerbaijan, in the Alat FEZ, and their export to Europe is more profitable for China,” he said.
Aleskerov emphasized that this approach will allow China to avoid additional transportation costs and take advantage of the benefits and opportunities of the SEZ.
“Of course, it is necessary to further develop the Middle Corridor through investments. The location of the free zone in this corridor is not accidental. We will be glad to see Chinese companies in Azerbaijan,” he noted.
In addition, the Chairman of the Board reported that a delegation from China visited the SEZ, where they were introduced to the advantages of the free zone.
It should be noted that the territory of the Alyat FEZ has three zones – 206 hectares, 302 hectares and 211 hectares with developed infrastructure. The construction of the airport has begun.
At the initial stage, all construction work is carried out on an area of 60 hectares.
Customs facilities have already been erected at the entrance to the SEZ to optimize logistics operations.
The upcoming phase of development will focus on the design of facilities for standard manufacturing plants, logistics centres and heavy industrial plants on dedicated sites totalling 349 hectares.
Fiscal and non-fiscal benefits and simplified administrative procedures will be applied to investors.
The direct connection of the FEZ with the maritime infrastructure will allow the development of Azerbaijan’s transit and logistics capabilities.
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