Azerbaijan has signed agreements with 13 countries on investment in the Alat Free Economic Zone (FEZ), Azerbaijan’s Deputy Minister of Economy Niyazi Safarov said.

Safarov made the remarks at the Azerbaijan Investment and Culture Summit, organized by the Small and Medium Business Development Agency (SMBDA) and the Islamic Cooperation Youth Forum (ICYF) with the support of the Ministries of Economy and Culture.

“The Alat FEZ contributes to strengthening cooperation and increasing investments in our country. We have already inked relevant agreements regarding investment in the FEZ. Moreover, we are holding talks to increase the number of potential countries,” Safarov said.

Furthermore, Safarov noted that there is great potential for cooperation with the Organization of Islamic Cooperation (OIC) thanks to the geographical location of Azerbaijan.

“The territories of Azerbaijan, previously liberated from Armenian occupation, also opened up new opportunities for cooperation. Many countries are interested in the implementation of projects in Karabakh,” he added.