Finance

Home page

Finance

Baku hosts Azerbaijani-Lithuanian intergovernmental commissionâ€™s meeting â€“ UPDATED - PHOTO

Baku hosts Azerbaijani-Lithuanian intergovernmental commissionâ€™s meeting â€“ <font color=red>UPDATED</font> - <font color=red>PHOTO</font>

02 April 2012 14:37 (UTC +04:00)

Baku. Ali Ahmadov - APA-Economics. Baku hosted the second meeting of the intergovernmental commission on trade and economic cooperation of Azerbaijan and Lithuania. The meeting focused on issues of political, economic and humanitarian cooperation between the two countries.

It was noted that more than 10 different agreements were signed in the economic sphere, so far. It was agreed to expedite the review of draft documents for the expansion of cooperation in trade, shipping, air transport, international road transport, agriculture, environmental protection, standardization and metrology, science and education.

Representatives of both sides made presentations about the investment climate, the tourist potential of reforms in the sphere of information technologies and health care. The meeting discussed the establishment of joint ventures in various industries. The sides discussed possibilities of cooperation in the transport sector, including the transportation of goods by the Azerbaijani State Seaport in Lithuania - Klaipeda, extending the route corridor of TRASECA.

The two sides reached an agreement to exchange experience in the field of e-government and e-signatures. Website of the Intergovernmental Commission was presented at the event.

Co-Chairman of the Azerbaijani side, Minister of Taxes Fazil Mammadov noted that the volume of trade between two countries was less the potential for countries to increase co-operation which should be expanded: â€œThe volume of trade turnover between Azerbaijan and Lithuania last year fell by 25% to 25 million dollarsâ€.

Co-Chairman of the Lithuanian side, Foreign Minister Audronius Azubalis said that Azerbaijan was an active participant in the European energy security, countries are showing interest in this area, as well as mutual investments. The Minister invited Azerbaijan to participate in some projects in Lithuania, including the container route to join and take part in the construction of LNG terminal with a capacity of 3 billion cubic meters.

Note that, following the meeting, it is expected to sign a protocol about the outcomes.