The Alyat Free Economic Zone (AFEZ) in Azerbaijan is ideal for Russian companies, Azerbaijan's Deputy Minister of Economy Elnur Aliyev said at the INNOPROM International Industrial Exhibition in Yekaterinburg.
Its favorable location in close proximity to the seaport and the railway will allow the Russian businesmen to export their products to neighboring countries; moreover, it has a separate jurisdiction from Azerbaijan.
“Recently, we signed 129 agreements within the framework of the Kazan forum. Next year we are launching an industrial zone on the territory of Azerbaijan with a primary focus on the petrochemical industry. Russian companies, especially from Tatarstan, want to register there,” Elnur Aliyev said.
Azerbaijan is completing work on launching the North-South project, which will connect the Arctic and Indian oceans. The project will further expand Russia-Azerbaijan business relations. The countries have been cooperating in the petrochemical industry, pharmaceuticals, mechanical engineering and shipbuilding, Aliyev added.
