11:52 - 16.10.2017

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The Baku International Trade Port has great prospects given the geographical location.

Patrick Verhoeven, managing director for policy & strategy of the International Association of Ports & Harbours (IAPH), says that new transport corridors, including maritime and rail transport projects, are being created.

"In this regard, China put forward concept "One belt - one road", and Azerbaijan joined this initiative. If to take into account that Baku was historically part of the silk road and now a large work in underway in order to revive this historical path, I think that Baku remains a transit point and can play an important role in the implementation of concept "One belt - one road"," Verhoeven said.

He added that if the country wants to be competitive, it must have good infrastructure, stable legal and financial base.

"As for free trade zone in the port area, I think it's a signal to investors as competition around this region is not too large, as in other parts of the world. Infrastructure, legal framework, fiscal climate and financial incentive are important criteria for investors. This entire package is of interest for investors," Verhoeven said.