Baku, September 8, AZERTAC
The UAE`s DP World has entered into an advisory agreement with the Azerbaijan Ministry of Economy and the Port of Baku to develop a framework for the Alat Free Trade Zone in Azerbaijan, the company said in a press statement.
The future business hub is planned to become part of a network of economic zones in the country to develop the economy and to form part of the Eurasian trade corridor.
DP World’s international experience and expertise in multi-modal transport links, logistics and the supply chain across its network is being sought by partners around the world. The company already provides advisory services for the development of the Khorgos Special Economic Zone and Inland Container Depot in Kazakhstan with a similar arrangement under a separate contract for the Port of Aktau, the country’s main cargo and bulk terminal on the Caspian Sea.
DP World Group Chairman and CEO, Sultan Ahmed Bin Sulayem, said: “Our history of marine and inland terminal development, industrial zone and logistics coupled with experience of multi-modal transport connectivity honed through our global network is something which sets us apart as a business and where we can add value to our partners and governments.
“I believe this experience will help the Port of Baku and Alat Free Trade Zone to become an important logistic and transport hub between China and Europe. We are delighted to be involved as the principal advisor in this major project.”
The Alat Free Trade Zone will occupy 20 square kilometres once fully developed, with DP World advising on its business plan, regulations governing special economic zones and a master plan for phase one of the project, which spans 4 square kilometres.