On July 14, 2021 a Memorandum of Understanding on cooperation was signed between Azerbaijan Investment Company (AIC) and the Baku International Sea Trade Port CJSC.
In accordance with the document, the companies will enhance close cooperation with the aim of developing joint activities based on the mutual interest and experience.
The Memorandum of Understanding was signed for the term of 3 years.
Baku International Sea Trade Port is situated in the Alat settlement, 70 kilometers south of Baku city, where the main railway and highway networks of Azerbaijan converge. Using this port, cargos coming from Asia are able to directly connect to the Baku–Tbilisi–Kars (BTK) Railroad and reach Europe in less than a week. Owing to the great advantages of its location, the port is becoming the largest transportation and logistics center in the Caspian basin and promises to create favorable conditions for expanding cooperation between the Caspian littoral states while enabling the full operation of north–south and east–west transportation corridors.
Azerbaijan Investment Company OJSC was established by the Decree of the President of the Republic of Azerbaijan On Additional Measures to Promote Investment Activity dated March 30, 2006.
The main goal of AIC is to make short-term investments in the commercial enterprises of Azerbaijan and to contribute to the development of non-oil sector at its own expense and by attracting other investors.