Today.Az » Business » Azerbaijan, Georgia ink cooperation accords
30 September 2021 [11:59] - Today.Az

By Azernews

By Ayya Lmahamad

Azerbaijan and Georgia have signed several cooperation agreements within the framework of a meeting of the joint intergovernmental commission on economic cooperation, Economy Minister Mikayil Jabbarov said on September 30.

The minister underlined that an intergovernmental agreement on cooperation in the fields of conformity assessment, standardization and metrology, as well as memorandums of understanding between Azerbaijan's Export and Investment Promotion Foundation, Agency for Development of SMBs and respective agencies of Georgia were signed.

"The implementation of issues arising from these documents will be important in the development of our mutually beneficial relations," the minister tweeted.

At the end of the meeting, Azerbaijan and Georgia have signed a protocol of the 8th meeting, agreement on border crossing points, agreement on cooperation in the field of standardization, metrology and conformity assessment, a program of cultural cooperation for 2021-2024, memorandum of understanding between AZPROMO and Enterprise Georgia and memorandum of understanding between the Agency for Development of SMBs and Enterprise Georgia.

Trade turnover up

Noting that Georgia is one of Azerbaijan's main trade partners, Jabbarov stated that the trade turnover between the two countries increased by 41 percent in the first eight months of 2021. 

The minister stated that during the meeting of the joint intergovernmental commission, the parties discussed expansion of economic and trade cooperation, new projects and Georgian companies' participation in the restoration of Azerbaijan's liberated territories.

"We believe that fruitful dialogue will make a significant contribution to strengthening economic ties with a friendly and neighboring country," the minister wrote on his Twitter.

The volume of trade turnover amounted to $532.4 million in the first eight months of 2021.

Joint intergovernmental commission meeting

Azerbaijan and Georgia held the 8th meeting of the Joint Intergovernmental Commission on Economic Cooperation under the chairmanship of two countries' prime ministers, Ali Asadov and Irakli Garibashvili, in Baku on September 29.

The meeting noted an active political dialogue between the two countries and stressed both countries' support to each other within international organizations.

The parties expressed satisfaction with the successful development of bilateral ties in various fields, particularly trade, economic, energy, transport, transit, investment, and humanitarian relations.

It was noted that Azerbaijan is one of the largest trade partners of Georgia and the largest investor in the Georgian economy.

Highly appreciating the level of energy cooperation, the parties noted that the joint projects implemented by the two countries serve to strengthen regional peace and stability.

It was underlined that these projects have played an important role in transforming the South Caucasus and changing the region's energy map.

The South Caucasus Gas Corridor project's successful implementation was stressed. It was noted that the project is of great importance for the prosperity and development of both Azerbaijan and Georgia.

The parties also focused on the importance of mutually beneficial bilateral transport and transit cooperation. It was noted that all necessary measures are taken to ensure the smooth operation of transport and transit corridors even during the pandemic. As a result, there has been an increase in the volume of freight traffic on the Baku-Tbilisi-Kars railroad during the first eight months of 2021.

Talking about the new geopolitical and geoeconomic reality created by the liberation of Azerbaijani lands, Ali Asadov stressed that the transport and communication system's restoration in the region promises great prospects and will be beneficial for all regional countries, including the Zangezur corridor.

In turn, Irakli Garibashvili stated that his country attaches great importance to the strategic partnership with Azerbaijan and intends to strengthen friendly relations in the future.

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