Azerbaijan, Lithuania should up trade turnover

Azerbaijan and Lithuania have developed close relations in the framework of international and regional organizations, Tax Minister Fazil Mammadov said during the second session of the Azerbaijani-Lithuanian intergovernmental commission on bilateral cooperation held in Baku.

"Trade between the two countries does not meet their potential, and it is important to expand economic relations in order to develop and diversify it in the future," co-chair of the intergovernmental commission from the Azerbaijani side Mammadov said.

The turnover decreased and amounted to $25 million in 2011 The airlines of both countries are working to establish direct air flights and create a Baku-Vilnius flight.

Lithuanian Foreign Minister Audronius Ažubalis, who is co-chair of the Lithuanian, side said the inter-governmental commission has shown itself as a good platform for cooperation between the two countries.

"Lithuania has participated in three-twinning projects between Azerbaijan and the EU. This participation was highly appreciated by the European Commission," Ažubalis said.

The importance of supporting bilateral cooperation in mechanical engineering, electrical engineering, information technology, and investing between Azerbaijan and Lithuania was stressed during the meeting.

The TRACECA corridor was also discussed. The parties agreed accelerate a review of draft documents on cooperation in merchant shipping, air transport, international road transport, agriculture, environmental protection, standardization and metrology, science, education and IT.

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Lithuania offers Azerbaijan energy sector cooperation by ensuring swap gas supplies, Lithuanian Foreign Minister Audronius Azubalis said during the second meeting of the Azerbaijani-Lithuanian intergovernmental commission on bilateral cooperation in Baku today.

Ažubalis said Lithuania will commission a natural gas liquefaction terminal with a total capacity of about 3 billion cubic meters in 2014.

"Cooperation with Azerbaijan is also possible through this terminal," the minister, who is a co-chairman of the intergovernmental commission from the Lithuanian side, said.

Ažubalis stated that Azerbaijan is an active participant in the process of ensuring the energy security of Europe.

"Azerbaijan is seeking to diversify its energy supply routes," Minister of Taxes Fazil Mammadov, a co-chairman of the intergovernmental commission from the Azerbaijani side, said. "In this regard, it is ready to actively cooperate with Lithuania."


/Trend/