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UAE port operator DP World helps Azerbaijan to build free trade zone

Xinhua, September 8, 2016 Adjust font size:

Dubai Ports (DP) World, the world third biggest container port operator in relation to assets, said Wednesday it made an advisory agreement with the Azerbaijan Ministry of Economy and the Port of Baku to develop a framework for the Alyat Free Trade Zone in Azerbaijan.

The business hub in the Caucasus republic is planned to become part of a network of economic zones in the country as part of the Eurasian trade corridor, DP World said in an e-mailed statement.

The Azeri Alyat Free Trade Zone will occupy 20 square kilometers 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 four square kilometers. Endit