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EU to continue supporting Baku in becoming commercial hub

09 May 2018 [17:08] - TODAY.AZ

By  Trend

The EU will continue supporting Baku in the process of becoming a commercial hub, Commissioner for European Neighborhood Policy and Enlargement Negotiations Johannes Hahn said in his video message to the participants of the International Association of Ports and Harbors (IAPH) Baku 2018 World Ports Conference.

He noted that the geographical location of Azerbaijan allows the country to play a key role in linking Europe and Asia.

Communication is one of 20 tasks that should be implemented until 2020 as part of the EU Eastern Partnership initiative, he said.

This is one of the key factors for economic development and unification of people, making them stronger and creating a platform for exchange of experience, he added.

He noted that the EU allocated a grant of 150 million euros until 2020 for the implementation of the Trans-European Transport Network (TEN-T) program.

This will help attract more than one billion euros of investments in the program as part of a long-term investment plan, he said.

The EU is investing in the necessary infrastructure in close cooperation with international financial institutions such as the European Bank for Reconstruction and Development and the European Investment Bank, he added.

Baku hosts World Ports Conference 2018 on May 8-11. The event is attended by port heads, government representatives, professors and experts from around the world, including Europe, Japan, Iran, Georgia, Indonesia, Nigeria and others.

The participants of the event will discuss cargo transportation along the Silk Road, the development of transport hubs and the role of ports in this issue, as well as issues of multiculturalism, cultural differences in global logistics, the work of free trade zones, increasing competition among them and other topics.


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