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Azerbaijan and US issued joint statement on the result of Economic partnership commission

21 April 2012 07:56 (UTC +04:00)

Governments of both countries reiterated a mutual interest in strengthening and deepening their strategic dialogue on economic reform and diversification. Specifically, the US and Azerbaijan will work together to support the diversification of Azerbaijanâ€™s non-oil sector and its increasing role in global energy security.

The delegations welcomed the signing of a second grant agreement between Azerbaijanâ€™s State Civil Aviation Agency and the U.S. Trade and Development Agency to provide technical assistance aimed at helping Azerbaijan achieve Category 1 aviation safety status, which would move Azerbaijan closer to direct airline flights between the two countries, as well as expand business, commercial, and tourism ties between the United States and Azerbaijan.

In the statement The US and Azerbaijan recognized the importance of strengthening consultations on information and communication technologies and agreed to continue discussions on a Memorandum of Cooperation on Information Communications Technologies (ICT)..

Both sides agreed to work closely on Azerbaijanâ€™s bilateral negotiations for Membership in the World Trade Organization (WTO).

The delegations reviewed cooperation in the energy sector and reaffirmed the importance of the Memorandum of Understanding (MOU) between the Government of the United States and the Government of the Republic of Azerbaijan on a Dialogue on Energy Security in the Caspian Region.

The United States welcomed Azerbaijanâ€™s contribution to public-sector capacity building in Afghanistan.

The parties agreed to discuss further cooperation on intellectual property rights.

The United States and Azerbaijan expressed intention to sign the Memorandum of Understanding on financial cooperation that has been negotiated between the Central Bank of Azerbaijan and the U.S. Agency for International Development to continue ongoing work to strengthen Azerbaijanâ€™s risk-based banking supervision, combat terrorism financing, and establish an internationally-recognized automated cash management system.

The Government of Azerbaijan urged the Government of the United States to repeal Section 907.

The fourth meeting of the Economic Partnership Commission US-Azerbaijan was decided to be held in 2013 in Baku.