Korean experts discuss SEZ development in Azerbaijan
By Nigar Orujova
A meeting with a group of South Korean experts, who visited Baku to hold an Interim Workshop on December 24-28, was held at the Ministry of Economic Development. Discussions focused on issues of management principles, in particular, industrial parks development, stages of their creation, development strategy, and strengthening of human resources.
The Korea International Cooperation Agency (KOICA) is implementing the Project for Developing Special Economic Zones (SEZs) and Industrial Parks (IPs) in Azerbaijan jointly with the Azerbaijani ministry.
SEZ is a geographical region that has more free-market-oriented laws than a country's typical or national laws.The category SEZ covers includes free trade zones, export processing zones, industrial parks,free economic zones, urban enterprise zones, etc.
The objectives of the KOICA-implemented project are to draw an improved policy and strategy for industrial sites development and management conducive to encourage both domestic and foreign investment in Azerbaijan; to revise the law on Special Economic Zones and Industrial Parks and develop further legal and regulatory framework for ensuring the efficiency and consistency of the policy implementation.
The project also aims to build institutional and human capacity to develop industrial location policy and establish a new system and institutions of SEZs and IPs development and management.
Korea and Azerbaijan signed a grant agreement to finance the KOICA project for SEZs and IPs development in Azerbaijan in October 2011.
Under the agreement, KOICA, a Korean government agency, is providing $1 million for the implementation of the 18-month-long project.
According to the Draft Development Concept "Azerbaijan - 2020: The Vision of The Future", a free economic zone will be established in the area of the Heydar Aliyev International Airport in the capital Baku by 2020.
KOICA is engaged in implementing the Korean government's grant aid and technical cooperation programs. The agency has 43 representative offices in partner countries.