Page 74 - Azerbaijan State University of Economics

THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.77, # 2, 2020, pp. 70-77

The development of logistics and trade is highlighted as one of the key areas in the
Strategic Roadmap for the Development of Logistics and Trade in the Republic of
Azerbaijan. Yusifov, Kulu and Mammadov argue that activities should be continued
to reduce dependence on the non-oil sector and turn Azerbaijan into a logistics hub
of the region. Azerbaijan's strategic position in the region between the east and west
gives it a very favorable and good position in terms of cargo delivery through the
territory of Azerbaijan. Therefore, many shopping centers are being built in the
country. Furthermore, it is necessary to work seriously for the country's openness to
investment, which will bring the country a lot of job opportunities and value-
creating activities (2019, 37).
The strategic map emphasizes the importance of strengthening Azerbaijan's regional
logistics route, the further development of the new Baku port complex in Alat
settlement, the Baku-Tbilisi-Kars Railway and the Astara Railway, and the
transformation of Baku into an important logistics center. Today, Azerbaijan is
implementing successful projects in the field of logistics. These projects are very
important for the opening of the economy and the connection of Azerbaijan's
economy with the world economy. Azerbaijan's development potential in the field of
logistics is huge. Therefore, it should be kept as one of the main priority sectors of
the country, and Azerbaijan should be considered as one of the areas that play a very
important role in the development of the non-oil sector and its integration into the
world economy. Cooperation with the Chinese project "One Belt, One Road" can
turn Azerbaijan into a logistics center. The project, initiated by China, aims to
restore the historic Silk Road in the future, under which the Chinese government
plans to allocate $40 billion for infrastructure projects. In this regard, the active
cooperation under this project will increase Azerbaijan's transit revenues in the
future, will play a significant role in diversifying its economy and will become a hub
between east and west.

One of the important areas for the strategic development of the national economy is
the development of tourism. Azerbaijan is one of the countries with great tourism
potential. Its geographical proximity to Europe and the Middle East makes the
country an interesting destination for tourists from both the CIS and the Arab world.
The establishment of the ASAN visa service, the opening of the country to the
international economy and visa reforms is one of the factors that have a positive
impact on the flow of tourists to the country. In addition, the establishment of the
Azerbaijan State Tourism Agency to promote tourism is one of the important steps
taken in this direction.

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