Antwerp hosts conference on strengthening Azerbaijan’s business environment
Baku, November 26, AZERTAC
The Executive Director of the Center for Analysis of Economic Reforms and Communication (CAERC), Vusal Gasimli, delivered a speech at a conference on “Strengthening the Business Environment in Azerbaijan: Investments, Reforms, and Innovation” held in Antwerp, Belgium. The conference was organized with the support of the Embassy of Azerbaijan to Belgium and Luxembourg, as well as the Azerbaijan’s mission to the European Union.
The event was attended by more than 50 participants, including representatives of state and government bodies, members of the Antwerp business community, and prominent entrepreneurs. The aim of the conference was to present the investment opportunities and business prospects of Azerbaijan’s economic regions to entrepreneurial entities and to hold discussions on the public-private partnership model.
In his opening remarks, the Ambassador of Azerbaijan, Vagif Sadiqov, emphasized the importance of such conferences in informing the international community about Azerbaijan’s favorable business climate.
Vusal Gasimli highlighted the investment potential of Azerbaijan’s non-oil sector, agriculture, renewable energy, digital economy, and industrial production. He noted that the country’s industrial zones currently cover an area of 1,540 hectares and host 161 resident companies. To date, investments amounting to USD 4.6 billion have been made in these zones, creating over 18,000 jobs. In 2024, the total production volume in industrial zones reached USD 1.943 billion, while exports amounted to USD 629 million.
The CAERC Executive Director also underlined that reforms in Azerbaijan’s customs and trade policies have facilitated the expansion of foreign trade and enhanced export opportunities. To date, Azerbaijan has signed free and preferential trade agreements with 12 countries, bilateral investment treaties with 49 countries, and agreements on the elimination of double taxation with 57 countries. This legal framework provides investors with high levels of security and eases access to regional markets.
Addressing Azerbaijan’s trade policy, Gasimli stated that reforms in the customs and tax environment have significantly influenced the country’s trade dynamics. He emphasized that the decision to exempt 300 intermediate products from import customs duties has contributed both to the increase in exports and to enhancing the competitiveness of local products in foreign markets. Equal rights for foreign and domestic investors, unrestricted capital and currency operations, and a favorable legal framework make Azerbaijan one of the most competitive investment environments in the region.
Panel discussions featured remarks by Senior Advisor for EU relations at Voka Luc Van Looveren, Transport, Logistics, and IT Consultant Mark Scheerlinck, former President of the Antwerp Port Authority Marc Van Peel, and European Supply Chain Specialist Alex Van Breedam.
During the conference, the parties discussed cooperation directions for the upcoming period in detail and exchanged views on implementing joint initiatives across various sectors. Discussions focused on partnership opportunities in priority areas such as investment, finance, trade, entrepreneurship development, transport, and logistics.
Vusal Gasimli also visited the Port of Antwerp, Europe’s second-largest maritime trade port, and held discussions on cooperation opportunities.
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