Baku, Republic of Azerbaijan, 7 May 2026 — H.E. Dr. Muhammad Al Jasser, Chairman of the Islamic Development Bank (IsDB) Group, visited the Alat Free Economic Zone (AFEZ) during his official mission to the Republic of Azerbaijan.

Strategically positioned along major regional trade and transport corridors near the Baku International Sea Trade Port, AFEZ is emerging as an important platform supporting Azerbaijan’s ambitions in trade, logistics, manufacturing, and economic diversification.

During the visit, Dr. Al Jasser was accompanied by Mr. Samad Bashirli, Deputy Minister of Economy, and Mr. Asgar Alakbarov, Advisor to the Minister and National Coordinator. The program included a meeting with Mr. Valeh Alasgarov, Chairman of the Board of the AFEZ Authority, followed by a tour of the Zone’s infrastructure and facilities.

Established by Presidential Decree in 2020, the Zone reflects Azerbaijan’s forward-looking economic diversification strategy and expanding investment ecosystem. Overall, 6,485 hectares have been allocated to the Zone, with an additional 1,005 hectares reserved for future development. 

Discussions during the visit focused on the Zone’s expanding role in supporting industrial development, regional connectivity, and private sector growth, as well as ongoing coordination between the IsDB Group and Azerbaijani authorities on priority infrastructure initiatives within AFEZ.

Dr. Al Jasser commended the leadership and team of AFEZ for the remarkable progress achieved and their ambitious vision for the future development of the Zone.

The IsDB Group’s engagement in Azerbaijan spans key sectors including transport, energy, water, agriculture, and private sector development, reflecting a long-standing partnership focused on supporting the country’s evolving development priorities.