TODAY.AZ / Business

Reps of over 400 European companies expected to arrive in Baku for business forum

17 April 2018 [17:55] - TODAY.AZ

By  Trend

Representatives of over 400 European companies are expected to participate in the EU-Azerbaijan Business Forum in Baku, Kestutis Jankauskas, head of the EU delegation to Azerbaijan, said April 17 during the presentation of the twinning project “Support to the Ministry of Taxes of the Republic of Azerbaijan in Transfer Pricing and developing Anti-Tax Avoidance measures.”

He noted that the EU-Azerbaijan Business Forum will be held in early June.

Azerbaijan is in the process of implementing serious economic reforms, which will allow the country to strengthen the competitiveness and stability of the economy, he said.

The EU is interested in this, as well as in the strengthening of cooperation, he added.

Azerbaijan and the EU are working to sign a new partnership agreement, he said.

The European Council adopted a mandate for the European Commission and the high representative for foreign affairs and security policy to negotiate, on behalf of the EU and its member states, a comprehensive agreement with Azerbaijan in November 2016.

The new agreement should replace the 1996 partnership and cooperation agreement and should better take account of the shared objectives and challenges the EU and Azerbaijan face today.

The agreement will follow the principles endorsed in the 2015 review of the European Neighborhood Policy and offer a renewed basis for political dialogue and mutually beneficial cooperation between the EU and Azerbaijan.

Currently, bilateral relations between the EU and Azerbaijan are regulated on the basis of an agreement on partnership and cooperation that was signed in 1996 and entered into force in 1999.

The new agreement envisages the compliance of Azerbaijan’s legislation and procedures with the EU’s most important international trade norms and standards, which should lead to the improvement of Azerbaijani goods’ access to the EU markets.


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