Azerbaijan Working To Lure Investments For New Trade Route’s Development

By Ali Mustafayev

Azerbaijan is working to lure investments in development of new trade routes, Azerbaijani Foreign Minister Elmar Mammadyarov said at the first conference of the Silk Road Support Group of the OSCE Parliamentary Assembly in Baku March 13.

“In particular, Azerbaijan held negotiations with Deutsche Bank and a number of other potential investors from countries interested in these routes,” Mammadyarov said.

He noted that the development of international transport routes makes a significant contribution to the economic development of the OSCE region.

“Over the past few days, Azerbaijan has taken significant steps towards diversifying the economy, and in this respect, investments in transport corridors, in the view of the geographical location of Azerbaijan, are very important,” the foreign minister said.

The creation of Alat free trade zone and the development of the international sea trade port in Baku are also significant economic projects of Azerbaijan, according to the minister.

He stressed that Azerbaijan is expanding its investment potential by creating favorable conditions for foreign investors, as well as developing priority non-energy areas for attracting investments.

“These steps are a part of the strategy of President of Azerbaijan Ilham Aliyev. We commissioned the Baku-Tbilisi-Kars railway last year, which is a reliable and significant railway link for both Asia and Europe,” Mammadyarov noted.

Lapis Lazuli, which will become another link between the West and East, is also a significant transport link with Azerbaijan’s participation, the minister said.

The Silk Road route will serve as an important momentum for economic development of not only Azerbaijan, but all countries participating in the route, Mammadyarov added.