DP World, Azerbaijan ink advisory contract

Sultan Ahmed bin Sulayem and Ilham Aliyev

The President of the Republic of Azerbaijan Ilham Aliyev has received Sultan Ahmed bin Sulayem, DP World Group chief executive officer and chairman, Chairman of Ports, Customs and Free Zone Corporation (PCFC), during a visit to Baku, where DP World signed 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.
President Aliyev hailed DP World's partnership with his country in developing the Alyat Free Trade Zone, which once completed will transform the Port of Baku into a key logistic and transport hub in the middle of Eurasia, serving both European and Asian markets. He looked forward to further cooperation with the Group as part of the advanced economic relations between the UAE and the Republic of Azerbaijan.
Sultan Ahmed bin Sulayem expressed his delight at meeting with Azerbaijan President Ilham Aliyev with whom he explored the great potential for collaboration between DP World and the Republic of Azerbaijan in their promising ports, free zone and logistics industry. DP World will offer Azerbaijan its expertise as a major global developer of ports and economic zones. The company develops and operates its flagship Jebel Ali Freezone (Jafza), the world's leading free trade and economic zone.
DP World Group Chairman and CEO, Sultan bin Sulayem, said: "By entering into this advisory agreement to develop the Alyat Free Trade Zone, global trade enabler DP World has set off a new phase of cooperation with Azerbaijan. I proposed to President Aliyev the building of three new logistic free zones: The first at the Azerbaijan-Iran border, the second at the border with Russia, and the third at the border with Georgia. All of them will be connected via Azerbaijani railways to the Alyat Free Trade Zone and the port and airport of Baku. This will streamline the movement of cargo from the Port of Aktau, jointly developed and operated by DP World in Kazakhstan, to the Port of Baku and then to the Black Sea, through to DP World terminals."
- business@khaleejtimes.com