PRESIDENTIAL DECREE OF THE AZERBAIJAN REPUBLIC

of March 6, 2007 No. 538

About creation of special economic zones in the Azerbaijan Republic

At the present stage the solution of the social and economic problems existing in a number of the countries, wider and effective use of achievements of science and technology and more active participation of these countries in the international labor division is reached by means of application of such new form of economic activity as special economic zones. The international experience demonstrates that special economic zones have potential to exert strong impact on economic development of the separate territories and the countries in general.

As a result of the purposeful measures performed in recent years in the Azerbaijan Republic there were favorable conditions for approval of market economy, sustainable social and economic development of the country and its integration into system of the international economic relations. Now the Azerbaijan Republic is at new stage of social and economic development. Special economic zones can play important role in implementation accepted with respect thereto in the country of strategic programs and projects, the solution of priority economic and social tasks. At the same time, creation of such zones can stimulate further expansion of foreign economic relations with use of benefits of favorable geographical and transport location of Azerbaijan.

For the purpose of achievement of the solution of such questions as creating favorable conditions for development of national economy and its certain regions, encouragement of investments and the direction them to priority spheres, opening of new workplaces, use of modern managerial experience, the offer of competitive goods and services, I decide:

1. Recognize reasonable creation in the Azerbaijan Republic of special economic zones.

2. Determine that the state policy connected with creation and functioning of special economic zones in the country is performed by the Ministry of Economics of the Azerbaijan Republic.

3. Charge to the Cabinet of Ministers of the Azerbaijan Republic in a month:

3.1. prepare and provide to the President of the Azerbaijan Republic the bill of the Azerbaijan Republic "About special economic zones";

3.2. together with the Ministry of Economic Development of the Azerbaijan Republic to prepare and provide to the President of the Azerbaijan Republic offers on the priority directions of creation of special economic zones;

3.3. prepare and provide to the President of the Azerbaijan Republic projects of regulations on the respective special economic zones;

3.4. prepare and provide to the President of the Azerbaijan Republic offers on preferential tax and customs regime, currency control in special economic zones;

3.5. prepare and provide to the President of the Azerbaijan Republic the draft of the simplified rules of customs control, activities of customs clearance stations, documentation of goods, the mode of the omission of vehicles and physical persons within special economic zones;

3.6. resolve other issues following from this Decree.

4. This Decree becomes effective from the date of its publication.

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