The Baku International Sea Trade Port may receive the status of a free economic zone (FEZ). It may attract up to $1 billion in foreign investments in a few years, the general director of the port Taleh Ziyadov said.
"Our aim is to create not only transit, but also economic recovery around the new Baku port. In world practice this is achieved through the establishment of free and special economic zones, which is why there is a proposal to create a free economic zone around the port in Alat, such as in Hong Kong, or Jebel Ali. It will provide an impetus to the development of the non-oil sector,'' Trend reports.
