Azerbaijan, Syria negotiate to aviod double taxation

Representatives of both countries accelerated the work over a draft agreement on avoiding double taxation immediately after Syrian President Bashar al-Assad's official visit to Baku, the ministry said.

The delegation of the Syrian taxes Ministry discussed the items of the draft agreement with the Azerbaijani counterparts last week. The parties reached principle agreement on the main points of the project.

Head of the Syrian delegation, Naim Almasri, appraised a whole negotiating.

"This contract is very important for bilateral investment. Our businessmen are planning to invest in Azerbaijani economy, but it is very difficult to realize it without the treaty. We are willing to coordinate a draft treaty as soon as possible," Almasri said.

In the end of negotiations, the parties signed a memorandum. The last round of talks will be held in Syria in the near future.

Syrian President Bashar al-Assad during his visit to Baku in July reached an agreement with the President of Azerbaijan Ilham Aliyev to enhance bilateral economic ties and investments. During the visit, a business forum was held for more than 200 businessmen from Syria, and an agreement on investment promotion and protection was signed with the participation of the presidents.

In the near future it is planned to launch similar negotiations with Slovenia, Slovakia, Libya, Turkmenistan and Bosnia and Herzegovina.

/Trend Capital/