Nakhichevan in the near future will turn into Dubai of the South Caucasus due to the convenient geographical location. The head of department of economic development, investment and foreign relations of Nakhichevan Emin Zeynalov, stated.

According to him, Nakhichevan is located on the border of three countries - Turkey, Iran and Armenia, which will in the future turn this area into a free economic zone with a lighter tax and customs regimes, the Turkish Zaman reports.

He noted that in the first half of this year the trade turnover between Nakhichevan and Turkey reached $78 million. The share of imports from Turkey was $ 50 million, the share of exports from Nakhichevan - $28 million, with 64 Turkish companies, employing 843 Turkish citizens.