Nakhchivan, ADB discuss Zangazur Corridor and regional projects

Jeyhun Jalilov, the Azerbaijani President's Plenipotentiary Representative in the Nakhchivan Autonomous Republic, has met a delegation led by Sunniya Durrani-Jamal, Asian Development Bank (ADB) Country Director for Azerbaijan in the Central and West Asia Department, with the sides discussing the Zangazur Corridor.

According to Report's local bureau, the meeting expressed satisfaction with the agreements reached within the framework of the peace agenda between Azerbaijan and Armenia.

It was noted that ensuring sustainable peace and stability in the region could create new transport and communication opportunities, expand economic ties and deepen mutually beneficial cooperation.

Jalilov emphasized that Nakhchivan is a strategically important region located at the intersection of the East-West and North-South transport corridors. He also spoke about the importance of the Zangazur Corridor and the TRIPP project planned within this framework in terms of expanding regional transport links.

It was noted that implementation of the project would provide Nakhchivan with an overland transport connection to the rest of Azerbaijan and strengthen its connectivity with Türkiye via railway.

The signing of a peace agreement between Azerbaijan and Armenia was also said to create new opportunities for these transport routes to become operational and increase their regional importance.

Nakhchivan's energy potential and projects being implemented in the renewable energy sector were also in focus. The sides highlighted opportunities to export electricity to Türkiye and gain access to broader markets.

The meeting also covered measures to develop agriculture, increase production, provide state support to farmers and allocate subsidies.

The sides discussed realizing Nakhchivan's tourism potential, developing the tourism industry and creating new production opportunities in the metallurgy sector.

They also exchanged views on 10-year tax incentives for entrepreneurs, measures to improve the investment environment and steps toward potentially transforming the region into a free economic zone in the future.

Durrani-Jamal highlighted the importance of the planned projects and spoke about financing opportunities offered by the ADB, including the role of concessional loans.

Emphasizing the importance of the visit, the ADB country director for Azerbaijan noted the significance of the information presented on developing Nakhchivan's transport, energy and economic potential.

The meeting also included discussions on the economic aspects of projects that could be implemented with ADB participation in the coming years and prospects for further cooperation.