AFchamber co-organized the EU Business Mission to the Alat Free Economic Zone
On December 2, AFchamber co-organized a Sector-Specific Business Mission to the AFEZ-Alat Free Economic Zone. The EU Business Mission was comprised of representatives of leading EU businesses, chambers of commerce as well as representatives of diplomatic missions.
During the business visit, Chairman of the Board Valeh Alasgarov exhibited a detailed presentation on the potential usage of the economic zone, and the wide range of opportunities and benefits that will be created for investors. The Mission also included internal tour to Economic Zone and detailed information on the issues of interest to companies and diplomats was provided.
The authorized body of the Alat Free Economic Zone was established by the Decree of the President of the Republic of Azerbaijan dated May 22, 2020 “On the establishment and organization of the activities of the Alat Free Economic Zone”. AFEZ is being established next to Alat Port to intensify local and foreign investment in the country’s non-oil sector. All is in place to ensure that AFEZ will provide an operational and investor ready location by July 2022.
The EU Business Mission is implemented within the framework of the “EU-Azerbaijan Business Forum” assignment. This Project is funded by the EU and has the objective to strengthen the non-oil sector in Azerbaijan by improving the business climate and supporting the economic diversification of the country.
The Project is implemented by COWI Belgium in collaboration with the Italy-Azerbaijan Chamber of Commerce, the Azerbaijan-France Chamber of Commerce and Industry, and InvestBaku.