Rifat Sultan-zadeh, Vice Chairman of the Caspian Logistics Solutions (CLS) holding company, expressed keen interest from Azerbaijani private companies in investing in Turkmenistan. During his presentation titled “The future of the Caspian-Black Sea region depends on investments in Turkmenistan” at the sidelines of the International Forum on Attracting Foreign Investment in the country’s Energy Sector (TEIF 2024), Sultan-zadeh highlighted Turkmenistan’s role as a regional leader in sustainable development initiatives.
Sultan-zadeh proposed exploring new transport routes passing through Turkmenistan to optimize cargo flow in the region. These routes include: a route through Afghanistan and Pakistan and a route through Iran connecting to Azerbaijan’s Zangezur corridor (with an OFAC permit required).
He emphasized the potential of these routes to alleviate congestion on the Middle Corridor and open opportunities for joint investments between Turkmenistan, Azerbaijan, and Georgia. The Association of Customs Representatives and Logistics Companies of Azerbaijan would provide full support in this endeavor.
Sultan-zadeh stressed the need for investment in constructing a 1,520 mm gauge railway track along the Caspian Sea in Iran to facilitate faster movement of rolling stock without requiring wheel base replacements.
To attract investment in regional logistics projects, the creation of the Black-Caspian Logistics Fund is underway. This name references the historical significance of the Caspian-Black Sea Oil Industry Society established by the Rothschild family in Azerbaijan in 1886, which significantly impacted regional industrial and logistical development.
Considering Turkmenistan’s focus on environmental and climate projects, Sultan-zadeh also highlighted AZCHEMCO’s, another company within the holding, interest in collaborating with Turkmen mineral fertilizer producers. This collaboration could involve investments in the production of liquid and water-soluble fertilizers within Turkmenistan.
The session concluded with a Memorandum of Cooperation signing between Rysgally Zahmet I.P. (Turkmenistan) and AZCHEMCO (Azerbaijan).