By Sara Israfilbayova
Baku International Sea Trade Port, the oldest and largest seaport on the coast of the Caspian Sea, has signed a Memorandum of Understanding with Constanta Port (National Maritime Ports Administration) on the sidelines of the Silk Way summit in Romania.
The two ports intend to ensure and promote an increase in quality and quantity of all types of transportation by using their facilities, according to the MoU.
The document points out the possibility of transporting cargo via Constanta by rail road from China to the Central and Western Europe and to Eastern Europe and Baltic states by Danube.
The MoU was signed by director general of Baku Port Taleh Ziyadov and general manager of Constanta Port Dan Nicolae Tivilichi.
Azerbaijan, which has set a goal to become a major commercial and transportation hub in the region and facilitate the regional trade, is currently engaged in development of the Baku International Sea Trade Port in Alat.
Recently, the Port signed a MoU on technical cooperation in Singapore with SMRT International Pte Ltd and Ectivise Solutions Pte Ltd to enhance the operational effectiveness of the new Port of Baku.
The two Singapore-based companies will advise and support the Port of Baku in its efforts to introduce new technologies and innovative solutions in the Port and Free Trade Zone operations.
The Port of Baku is located on an area of 400 hectares (ha) of land, of which about 100-115 ha cover the area for the development of the international Logistics and Trade Zone. The northern areas around the port are reserved for future expansion of logistics, industrial, and manufacturing activity.
The Port is expected to become one of the leading trade and logistics hubs of Eurasia. The implementation of all three phases of construction is projected to increase the capacity up to 7,660 tons on a daily basis.
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