Azerbaijan's parliament ratifies two agreements with Kyrgyzstan

The Milli Majlis, Azerbaijan's parliament, has ratified two important agreements between Azerbaijan and Kyrgyzstan, Azernews reports.

The first agreement discussed and approved during today's parliamentary session was an additional agreement to amend the existing accord on the establishment of the Azerbaijan-Kyrgyz Development Fund.

Following this, the lawmakers deliberated on eliminating double taxation on income and preventing tax evasion between Azerbaijan and the Kyrgyz Republic. This landmark deal is expected to significantly enhance trade relations and encourage cross-border investments by removing financial barriers.

After thorough discussions, both documents were put to a vote and successfully adopted by the Milli Majlis.

The Milli Majlis is the national parliament of Azerbaijan, responsible for legislative functions and oversight of governmental activities. It consists of 125 members who are elected for five-year terms through a mixed electoral system. The Milli Majlis plays a crucial role in shaping Azerbaijan's laws, policies, and international agreements.