ADB recommends Azerbaijan to develop free trade zones

ADB recommends Azerbaijan to develop free trade zones
  • Clock-gray 19:28
  • calendar-gray 14 November 2019

Asian Development Bank (ADB) recommends Azerbaijan to consider more locations as candidate free trade zones, APA-Economics reports citing a publication of the bank entitled CAREC Corridor Performance Measurement and Monitoring Annual Report 2018.

Corridor Performance Measurement and Monitoring (CPMM) data conducted by ADB showed that Azerbaijan supported transit shipments from Black Sea ports to Kazakhstan, and truck shipments crossed through Tsiteli Khidi–Krasnyi Most (GEO–AZE). Krasnyi Most (Red Bridge) had an average border-crossing time for outbound traffic of 10 hours in 2018, mainly due to long time spent waiting in line. Inbound traffic had 3.2 hours of average border-crossing time.

Baku seaport is the gateway for shipments to and from Central Asia, yet average outbound time was 68.7 hours and inbound time was 12.4 hours at Baku port in 2018. Moreover, the limited frequency of ferry crossings and adverse weather, the time required to cross the Caspian Sea was highly unpredictable in 2018.

In addition to recommendation on free trade zones, the bank advises to expand Baku Port as a priority and to attract traffic to the Caspian Sea.

Mirsaid Ibrahimzade

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