|
By Ayya Lmahamad
The volume of trade turnover between Azerbaijan and Lithuania
increased by 42 percent year-on-year in the first five months of 2020, Azerbaijan’s
Economy Minister Mikail Jabbarov said during the 6th meeting of the
Intergovernmental Commission on bilateral cooperation between Azerbaijan and
Lithuania.
The two countries have signed about 40 documents in various
spheres, including mutual protection and promotion of investments, as well as
elimination of double taxation.
Moreover, mutually beneficial relations in such fields as
investment, trade, agriculture, energy, information technology, tourism and
culture have been developed, Jabbarov said during the meeting.
Jabbarov emphasized that both countries have the potential to
develop cooperation in industry, logistics, small and medium business, innovation
and digitalization, agriculture and tourism.
During the meeting, it was noted that the Intergovernmental
Commission promotes the deepening of bilateral trade- economic relations,
supports the implementation of projects in different spheres.
Additionally, in construction, trade, banking and insurance
sectors of Azerbaijan there are 17 companies with Lithuanian capital.
Furthermore, minister underlined Lithuania’s support in
expanding cooperation between Azerbaijan and EU, especially under the Eastern
Partnership Program, noting that Azerbaijan highly appreciates the technical
and advisory support of Lithuanian institutions in the projects and initiatives
implemented within the Mobility Partnership Declaration, signed with the EU in
2013.
Touching upon the negative effects of coronavirus pandemic,
minister stated that these effects did not bypass Azerbaijan’s economy.
Furthermore, he spoke of measures of social and economic support, new
mechanisms for entrepreneurship development, an electronic credit platform, tax
benefits and work to improve investment attractiveness, reminding that earlier this
year it was decided to establish a branch of the 4th Industrial Revolution
Center of the World Economic Forum in Azerbaijan.
In turn, Foreign Minister of Lithuania Linas Linkevius stressed
the importance of cooperation and expanding economic ties with Azerbaijan,
noting that November 2020 will mark the 25th anniversary of the establishment
of diplomatic relations between the two countries.
Minister also informed about the measures taken by the country
to eliminate the negative consequences of the pandemic.
Directions for expanding trade and economic cooperation were
also discussed during the online meeting.
The parties discussed issues of trade, agriculture and food
security, energy, transport, innovation and information technology,
environmental protection, culture.
Following
the meeting, a protocol was signed on the results of the 6th meeting of the
Intergovernmental Commission on bilateral cooperation.