Conference held on special economic zones

Azerbaijani Parliaments' Commission for Economic Policy chief Ziyad Samadzadeh has spoken about Special Economic Zones (SEZ) and their establishment factors in Azerbaijan. Samadzadeh noted that this is the first event held after the president’s decree on this issue.

The Cabinet of Ministers official for Economy and Finance-Credit Policy Department Ogtay Hagverdiyev estimated the president's decree as political decision.

"We want to achieve the establishment of SEZ in Azerbaijan through studying out the world practice. There are nearly 700 zones in the world. There are some essential differences between free and special economic zones. The Free Economic Zones should have their infrastructure and access to the world ocean. But their creation does not always result positive," he said.

Hagverdiyev noted that there are opportunities to create SEZ in Azerbaijan which should cover non-oil sector.

"Local citizens will work in SEZ and their security issues will be included into to be developed draft law,” he said.

The official added that it is no doubt that these kinds of zones can be created in Sumgayit. He related it with a great risk for foreign investors.

State Customs Committee official Mirgasim Vahabov, president of Tefekkur University Mushvig Atakishiyev made statements on this issue, APA-Economics reports.