In a move to boost the operational capabilities of Ethiopia’s Dire Dawa Free Trade Zone, a formal cooperation agreement has been signed with Azerbaijan’s Alat Free Trade Zone. The deal was reached during a recent visit by a high-level delegation of Ethiopian government officials to the Alat Free Economic Zone in Azerbaijan.
This collaboration marks the beginning of a formal partnership between the two zones, laying the groundwork for future initiatives and cooperative efforts. The Ethiopian officials engaged in detailed talks and field visits with leaders from the Alat Free Economic Zone, local industrial park authorities, and agencies supporting small and medium-sized enterprises.
Spanning 719 hectares in Baku, Azerbaijan’s Alat Free Economic Zone is a key regional economic hub. Meanwhile, the Dire Dawa Free Trade Zone, Ethiopia’s first to transition from an industrial park into a fully operational free trade zone, is expected to play a vital role in the country’s economic growth.
The agreement between the two zones underscores the growing ties between Ethiopia and Azerbaijan. Both nations are looking to expand trade and investment opportunities through enhanced cooperation in the free trade sector.
Source: Fana BC
