On Thursday, September 21, 2017, IFEZ signed a memorandum of understanding with the Anaklia Development Agency of Georgia on free economic zone development. Under the agreement, the two organizations shared development experience and policy directions for free economic zones, and the Anaklia Development Agency was to benchmark the development model of the Incheon Free Economic Zone while promoting related cooperation. Anaklia is a development hub on Georgia’s Black Sea coast where the creation of a special economic zone linked to port and logistics functions has been pursued.