Azerbaijan to acquire stake in Aktau logistics center

By: Aynur Karimova

Azerbaijani Investment Company OJSC will acquire a 25-percent stake in the logistics center constructed by Azersun Holding in Aktau, West Kazakhstan, Azerbaijan’ Economy and Industry Minister Shahin Mustafayev said.

“The construction of the logistics center in Aktau has been already completed, and since December it will begin to receive food and agricultural products for storage,” he said during the presentation of the center.

The logistics center, located in an area of 8,730 square meters, will allow Azerbaijani entrepreneurs to expand export opportunities and distribute their products to other countries.

“Establishment of a logistics center in Kazakhstan’s Aktau city will significantly facilitate an access to the markets of the Customs Union countries for Azerbaijani exporters,” said Shahin Bagirov, the Deputy Chairman of the State Customs Committee of Azerbaijan.

He said that the Customs Committee is working on simplification of customs procedures for export of agricultural products in general and by the ferries in particular.

“The Committee also continues to work on the introduction of the system of e-payment of customs duties, synchronization of customs documentation with the international one, bringing the documents into a single form given the multimodal transport,” he noted.

In his remarks, Abdulbari Guzel, the Chairman of the Supervisory Board of Azersun Holding Group of Companies, said the payback period of the logistics center project is 10 years.

A memorandum of understanding on the construction of the Aktau logistics center was signed in August 2013.

At the first stage, $20 million were allocated for the construction of the center, but the volume of investments may increase in the future. Azersun Holding itself will manage the logistics center and distribute the products in the future.

Rauf Valiyev, the Head of Azerbaijan Caspian Shipping Company CJSC, has said that the entrepreneurs, who intend to carry out cargo transportation via the Aktau logistics center, would be offered low tariffs for 6-12 months.

He noted that the Company is currently working on the optimization of ferry transport tariffs, and delivery of cargoes in modern and safe conditions.

Being Azerbaijan’s first relevant projects abroad, the logistics center will create new export opportunities for entrepreneurs.

It is expected that the Aktau logistics center will pave the way for the development of non-oil sector of Azerbaijan and Kazakhstan, the expansion of transit and export opportunities in the region, as well as the development of trade and economic relations between the two countries.

SOURCE: AZER NEWS

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