TODAY.AZ / Business

Azerbaijan, UK create intergovernmental commission

03 March 2015 [11:10] - TODAY.AZ

/By AzerNews/

By Nigar Orujova

Azerbaijan and the United Kingdom will further develop mutual relations through the creation of an intergovernmental commission on economic and trade cooperation.

This was presupposed in a memorandum "On economic and trade cooperation between Azerbaijan and Great Britain" signed in Baku on March 2.

The creation of the intergovernmental commission will expand cooperation between the two countries in the fields of economy and trade.

The document was signed by Shahin Mustafayev, Economy and Industry Minister, and Charles Hendry, British Prime Ministerial Trade Envoy to Azerbaijan, Kazakhstan and Turkmenistan.

"Activity of Azerbaijani organizations registered in the UK, training of Azerbaijani youth in the country, as well as ongoing activities contributes to the development of relations between the two countries," Mustafayev said.

Azerbaijan and the United Kingdom are cooperating in various fields, including energy, trade and investment. There are 543 companies with British capital in Azerbaijan at present, and the UK has invested in Azerbaijan's economy $ 20 billion.

The minister noted that, "business is actively developing in the country and a number of entrepreneurs have turned to investors, thus expanding the activities of Azerbaijani companies in the UK."

He also shared his thoughts on cooperation in the fields of tourism, environment, ICT, energy, agricultural production, investment, and participation of British companies in the industrial parks, including Sumgayit Chemical Industrial Park, etc.

In his turn, Hendry said that an intergovernmental commission between Azerbaijan and Great Britain is important from the point of view of the development of relations between the entrepreneurs of the two countries and a close acquaintance of British companies with existing opportunities in Azerbaijan.

The commission was also discussed at the meeting of Azerbaijan’s President Ilham Aliyev with Hendry.

The head of state stressed the importance of developing cooperation between Azerbaijan and the United Kingdom not only in energy sector, but also in economic, trade, investment and other fields.

Azerbaijan wants the number of British companies operating in Azerbaijan to increase, President Aliyev said.

URL: http://www.today.az/news/business/138967.html

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