US based Journal of Commerce publishes article about Baku International Sea and Trade Port

Baku, December 1 AZERTAC

US based “Journal of Commerce” has published an article about Baku international Sea and Trade Port titled “Caspian Sea Port of Baku builds for opportunities in China-Europe overland links”

The article says: “Port of Baku, the oldest and largest port on the Caspian Sea, will complete phase 1 of its new international sea and trade port by 2017, increasing capacity to 11.5 million tons of cargo per year and up to 50,000 containers, many of which could be transshipped between China, Central Asia and Europe.

“It is challenging for resource-rich states to diversify their economies. The port is regarded as a product that will generate direct non-oil related revenue and also support diversification in deeper ways. In light of the current oil price, this policy is now even more relevant,” Dr. Taleh Ziyadov, director-general of Baku International Sea Trade Port told.

“The government allocated 400 hectares (988 acres) of land in Alyat for the new port and development of a Jebel Ali-style economic zone that leverages oil and gas spin-offs as well as better connectivity between China and Europe due to ongoing and often large investment in regional road and rail networks. Over the past decade, Azerbaijan alone has invested some $15 billion in upgrading its transport network. As part of policies to diversify the economy, the country has invested some $25 billion in petrochemicals and spin-off products.”

“An important point about the silk road revival is that it works on the basis that all countries improve their infrastructure and want to harmonize policies across trade, Customs and transit procedures. If Georgia doesn’t have good ports and roads, then we cannot reach our potential.”

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