Free Economic Zone «Karakul» and Free Economic Zone «Alyat» have signed an MOU

The joint delegation of “Karakul” Free Economic Zone (FEZ “Karakul”) and Gas Chemical Complex based on MTO technology, headed by director of FEZ “Karakul” Bakhodur Hafizov, visited “Alyat” Free Economic Zone (FEZ “Alyat”) in Azerbaijan in order to exchange their experience, study best practices and explore potential for further cooperation.

The joint delegation visited the site of FEZ “Alyat“ and got acquainted with operating environment created, as well as the infrastructure and benefits available to the investors. A series of meetings and negotiations were held with representatives of FEZ “Alyat” in order to discuss expansion of cooperation in various areas, including development of the investment potential and legal framework of the FEZ’s activity, as well as an exchange of technologies and experience.

During the visit, Director of FEZ “Karakul”- Bakhodur Hafizov and Administration Board Chairman of FEZ “Alyat” – Valeh Aleskerov signed a Memorandum of Understanding between FEZ “Karakul” and FEZ “Alyat” that sets the basis for future cooperation between two economic zones in a wide range of areas, including investment, technology transfer and exchange of experience.

Representatives of the joint delegation expressed their gratitude to FEZ “Alyat” for their hospitality and emphasized that such meetings and exchange of experience plays a significant role in the development of economic zones and strengthening of mutually beneficial cooperation.