The ambassador noted that Azerbaijan is the biggest strategic partner of Kazakhstan in the Caucasus region.
"The Kazakh-Azerbaijani relations for many years have been demonstrating high potential for development in all areas of mutually beneficial cooperation," he said. "By developing traditionally friendly, good-neighborly and partnership relations, Azerbaijan and Kazakhstan are pursuing a policy of expanding political and economic cooperation, and are equally interested in strengthening regional security, international stability and the prosperity of their countries."
Isabaev added that the idea of creating the AIFC belongs to President of Kazakhstan Nursultan Nazarbayev. For the first time in the post-Soviet space, a special jurisdiction based on the principles of the English law and the standards of leading global financial centers operates under the financial center.
He said that participants of the AIFC were granted unprecedented tax benefits in the form of exemption from corporate and individual income taxes until 2065. He added that simplified visa and employment regimes are provided.
Isabaev also added that the AIFC should become a financial hub for the countries of Central Asia, the Middle East, Europe, the republics of the Caucasus, the EEU (Eurasian Economic Union) and the territory of Western China.
"The biggest international development institutions, management companies, investment banks, financial associations, Islamic financial institutions are interested in participating in the AIFC," he said.
In conclusion, the ambassador expressed confidence that the AIFC will become a good platform for long and mutually beneficial cooperation between Azerbaijan and Kazakhstan.
The main activities of the AIFC include the development of the capital market, asset management, Islamic finance and new financial technologies.