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Azerbaijan Proposes to Create Joint Intergovernmental Commission with UK

Published: October 3, 2014 | 2:05 pm
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The establishment of an Azerbaijan-Great Britain intergovernmental commission promotes the expansion of bilateral relations, Azerbaijani Minister of Economy and Industry Shahin Mustafayev said.

He made the remarks at the meeting with British Minister of State for Trade and Investment, Lord Ian Livingston, the ministry said September 22.

Mustafayev said that the two countries have great potential to expand the cooperation in the fields of ICT, tourism, production, processing and sale of agricultural products.

During the meeting, Mustafayev emphasized the importance of the Southern Gas Corridor project. Its groundbreaking ceremony took place on September 20. Mustafayev also emphasized Great Britain’s special role in the implementation of large infrastructure projects in the oil and gas sector of Azerbaijan.

“Azerbaijan ensured macroeconomic stability and created favorable conditions for investors,” he said. “Azerbaijan attaches great importance to the development of relations with Great Britain. At present, 500 British companies successfully operate in the country.”

Lord Livingston appreciated the development of the oil and non-oil sectors of Azerbaijan and high GDP growth rates. He said he supports a proposal of establishing a joint intergovernmental commission between the two countries. He also said that a business delegation from Great Britain will soon visit in Azerbaijan.

The foreign trade turnover between Azerbaijan and the United Kingdom of Great Britain and Northern Ireland reduced twice during the year and hit $566.78 million in January-August.

The goods worth $443.884 million were imported in Azerbaijan for eight months, but exported – in the amount of $122.896 million, according to the Azerbaijani State Customs Committee.

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