Baku. Aynur Aliyeva - APA-Economics. Azerbaijan and Saudi Arabia have close cooperation. Up to now the countries have signed more than 10 documents on the development of the relations. Moreover, the draft agreement on elimination of double taxation and prevention of tax evasion has already been agreed and is ready for signing, Azerbaijan’s Minister of Economy and Industry Shahin Mustafayev said at Azerbaijan-Saudi Arabia business forum in Baku, APA-Economics reports.
He said the two countries have also signed agreements on economy, health, commerce, investment, sports, culture, education and agreement on promotion and mutual protection of investments.
“As of last year and 10 months of this year, trade turnover between our countries increased. 6 Saudi Arabian companies are functioning in the field of commerce, industry, banking and insurance in Azerbaijan. These companies have invested $368m in Azerbaijan,” Mustafayev said.