TODAY.AZ / Business

Azerbaijan-Lithuania trade turnover doubled

24 October 2014 [14:17] - TODAY.AZ

/AzerNews/

By Nigar Orujova

The trade turnover between Azerbaijan and Lithuania increased by 1.9 times, Taxes Minister, Fazil Mammadov said at the fourth meeting of the Azerbaijani-Lithuanian intergovernmental commission on economic cooperation in Shamkir on October 22.

Mammadov, co-chair of the intergovernmental commission on the Azerbaijani side, praised the successful development of relations between the two countries, stressing the importance of the commission's activities to expand economic cooperation between Azerbaijan and Lithuania.

"The trade turnover between the two countries amounted to $25.1 million in January and June 2014, which is 1.9 times more compared to the same period of the previous year," he added.

The minister said Azerbaijan and Lithuania further expanded bilateral ties through numerous meetings, visits and events involving the public and government agencies, as well as representatives of business circles after the previous session.

"Cooperation is especially intensively developing in the field of culture, tourism, youth and sports. Lithuanian experts actively involved in the twinning project to strengthen the capacity of Azerbaijan tourism, funded by the EU, carried out an extensive exchange of experience concerning the establishment and management of tourist areas," Mammadov noticed.

He also highlighted the fact that the agreement on simplification of visa regime between Azerbaijan and the EU was signed at the summit of "Eastern Partnership" in Vilnius, Lithuania, during the presidency of Lithuania in the EU.

Lithuanian Foreign Affairs Minister Linas Linkevicius, Co-chairman of the Lithuanian side, expressed satisfaction with the development of relations between the two countries and welcomed the role of the intergovernmental commission in it.

He noted the great potential of bilateral relations, the deepening of economic cooperation and cooperation in other areas.

The meeting discussed the prospects of bilateral relations, the development of the related legal framework, cooperation in energy, agriculture, environment, science and education, culture and tourism, ICT and other areas, as well as cooperation between the regions of Lithuania and Azerbaijan.

The meeting was followed with signing of an intergovernmental protocol.

At the meeting, eighth Azerbaijani-Lithuanian business forum was also held attended by about 70 businessmen from both sides.

During the event, Fazil Mammadov talked about the investment climate in Azerbaijan and its macroeconomic stability and economic development.

He also encouraged Lithuanian businessmen to cooperate with Azerbaijani counterparts.

In his turn, Linas Linkevicius noted that such forums have turned into a tradition over the past years.

"Despite the fact that there is a long distance between Azerbaijan and Lithuania from the geographic point of view, this does not prevent closer cooperation and signing of new partnership agreements is an indication of the parties' interest in mutual investment," he said.

He also praised the work of the intergovernmental commission in support of business priorities in the relations between the two countries at the government level.

The forum was also marked with presentation of the participants, as well as Azerbaijan Export and Investment Promotion Fund.

The event ended with bilateral meetings.

Earlier, at the meeting with Azerbaijan's Foreign Minister Elmar Mammadyarov, Linkevicius described Azerbaijan as his country's main trade partner in the South Caucasus.

The Lithuanian side also highlighted the cooperation with the European Union as part of the Eastern Partnership initiative. He said official Vilnius is ready to contribute to the development of Azerbaijan's relations with the EU.

URL: http://www.today.az/news/business/137192.html

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