A memorandum of cooperation between Azerbaijan’s Alat Free Economic Zone (AFEZ) and Georgia’s Hualing Free Industrial Zone (FIZ) was signed in Baku on Wednesday.

The document was inked by Chairman of the Board of Alat FEZ Valeh Alasgarov and Director General of Hualing FIZ Soso Nibladze in Baku during an Azerbaijani-Georgian business forum, a correspondent of News.Az reports.

AFEZ was established next to Alat Port to intensify local and foreign investment in the country’s non-oil sector. AFEZ uses this strategic geographic location to provide a regional investment hub and boost competitiveness in the Europe-Caucasus-Asia and North-South transport corridors. 

News.Az