{"id":79305,"date":"2023-03-02T05:01:50","date_gmt":"2023-03-02T04:01:50","guid":{"rendered":"https:\/\/zen-hopper.82-223-81-17.plesk.page\/2023\/03\/02\/azerbaijan-offers-business-opportunities-in-alat-free-trade-zone\/"},"modified":"2023-03-02T05:01:50","modified_gmt":"2023-03-02T04:01:50","slug":"azerbaijan-offers-business-opportunities-in-alat-free-trade-zone","status":"publish","type":"post","link":"https:\/\/thediplomatinspain.com\/en\/2023\/03\/02\/azerbaijan-offers-business-opportunities-in-alat-free-trade-zone\/","title":{"rendered":"Azerbaijan offers business opportunities in ALAT Free Trade Zone"},"content":{"rendered":"<h6><strong>Juan David Latorre<\/strong><\/h6>\n<p>&nbsp;<\/p>\n<p>The <strong>Embassy of Azerbaijan<\/strong> held last Tuesday at the<strong> C\u00e1mara de Comercio de Madrid a <\/strong>meeting entitled <strong><em>Azerbaijan: Business and Investment Opportunities in the ALAT Free Trade Zone (AFEZ),<\/em><\/strong> near Baku, next to the International Port, which is an ambitious project of the Government of Azerbaijan to offset the country&#8217;s traditional dependence on hydrocarbons.<\/p>\n<p>&nbsp;<\/p>\n<p>The event was attended by Azerbaijani Ambassador <strong>Ramiz Hasanov, <\/strong>who said: &#8220;Azerbaijan is a modern country with a diversified economy. Oil and gas have been the main target of foreign investments in our country since 1994. However, <strong>Azerbaijan offers opportunities in many more sectors, now that it has managed to build relatively sophisticated communications and transport.<\/strong> These sectors include agriculture, industry, education, real estate and healthcare.\u201d<\/p>\n<p>&nbsp;<\/p>\n<p>&#8220;With Spain, the ambassador said, we <strong>want to turn our political cooperation into practical cooperation in every sense.\u201d<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>Azerbaijan, with economic growth of <strong>3.7% in 2022<\/strong> and forecasts of <strong>2.5% for 2023<\/strong> and the coming years, has an important <strong>geostrategic location<\/strong> in the Caspian region, being a key player in the <strong>international energy transit.<\/strong> The country stands out for its great <strong>wealth in hydrocarbons<\/strong> (oil and gas) and concentrates <strong>80% of the economy<\/strong> and <strong>95% of the financial resources<\/strong> in its area of economic influence. At the same time, Azerbaijan&#8217;s continued development of its non-oil sector is considered crucial to ensure economic growth, supported by International Financial Institutions in <strong>infrastructure, renewable energy, agriculture and regional development projects.<\/strong><\/p>\n<p>&nbsp;<\/p>\n<p>The <strong>ALAT Free Trade Zone (AFEZ)<\/strong> has a unique <strong>legislation offering unique<\/strong> <strong>incentives<\/strong> and <strong>advantages,<\/strong> applying a special tax and customs regime for companies operating in the zone and engaged in high value-added and export-oriented manufacturing and services, as well as imported goods, works and services.<\/p>\n<p>&nbsp;<\/p>\n<p>After welcoming remarks by the Deputy Managing Director of the Madrid Chamber of Commerce, Industry and Services, <strong>Elsa Salvadores,<\/strong> <strong>Zohrab Gadirov,<\/strong> Deputy Executive Director of the Azerbaijan Export and Investment Agency (AZPromo), gave an overview of the current economic and market situation in Azerbaijan. Also, <strong>Valeh Alasgarov,<\/strong> Director of the Board of Directors of AFEZ (Free Economic Zone), discussed the fiscal and market characteristics for investment in the zone.<\/p>\n<p>&nbsp;<\/p>\n<p>On behalf of ESKA GLOBAL, a group of companies with ten years of investment experience in Azerbaijan, spoke <strong>Adolfo Romero de Marcelo,<\/strong> CEO&amp;Managing Partner, who highlighted the geostrategic situation of the Caucasian country equidistant between an imaginary line between Portugal and Japan, and with very important markets around it and at a very short distance. He also encouraged the use of what he called the <strong>&#8220;intermediate corridor&#8221;<\/strong> for the transport of goods, which shortens the travel time between Europe and East Asia by 15 days.<\/p>\n<p>&nbsp;<\/p>\n<p>Finally, <strong>Gamze Yilmaz,<\/strong> INDRA Azerbaijan Country Manager, and <strong>\u00c1lvaro Garc\u00eda Guzm\u00e1n, <\/strong>Project Manager at T\u00e9cnicas Reunidas for the Modernisation of the Heydar Aliyev Refinery in Baku, gave their testimonies based on their experience in supporting investment in Azerbaijan.<\/p>\n<p>&nbsp;<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The meeting Azerbaijan: Business and investment opportunities in the ALAT Free Trade Zone (AFEZ) was held at the C\u00e1mara de Comercio de Madrid.<\/p>\n","protected":false},"author":1,"featured_media":50864,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"jnews-multi-image_gallery":[],"jnews_single_post":[],"jnews_primary_category":[],"jnews_social_meta":[],"jnews_override_counter":[],"jnews_post_split":[],"footnotes":""},"categories":[187],"tags":[],"class_list":["post-79305","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-in-brief"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Azerbaijan offers business opportunities in ALAT Free Trade Zone - thediplomatinspain.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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