Azerbaijan, Kyrgyzstan to increase bilateral trade
By Aynur Jafarova
Azerbaijan and Kyrgyzstan will take additional measures to enhance the product nomenclature and increase bilateral trade between the two countries.
This was noted at a protocol signed on the results of the second
meeting of the intergovernmental commission on economic and
humanitarian cooperation held in Baku.
The total volume of foreign trade between Azerbaijan and Kyrgyzstan
amounted to $14.5 million in 2013. Thus, commodities worth $12.7
million were exported to Kyrgyzstan, and import operations worth
$1.8 million were carried out.
In January-July 2014, the trade turnover between the two countries
amounted to $19.5 million. In this case, goods worth $1.06 million
were imported from Kyrgyzstan to Azerbaijan, with the export
volumes of $18.48 million in Kyrgyzstan.
The current level of trade does not correspond to the real economic
potential of both countries. Thus, "appropriate efforts to increase
cooperation between business entities and entrepreneurs of the two
countries are required for further enhancement of economic
cooperation," the protocol stated.
The development of direct ties between the business communities of
the two countries, as well as the establishment of joint ventures
is an important direction in strengthening the economic and trade
relations, the document noted.
It is proposed to strengthen communication in the agricultural
sector, which has great capacities for joint cooperation and
increase of mutual supplies. In particular, the two countries will
consider the possibilities of delivery of oilfield equipment and
spare parts for drilling rigs on oil and gas production in
Kyrgyzstan, as well as ensuring of the timely delivery of sugar to
Kyrgyzstan in accordance with the signed contracts.
Azerbaijan and Kyrgyzstan also agreed on a draft of
intergovernmental agreement on air traffic.
Works on an intergovernmental agreement are underway to mark the
opening of passenger air traffic.
Azerbaijan Airlines (AZAL), the biggest Azerbaijani airline and
national flag carrier, will launch regular direct flights on
Baku-Bishkek-Baku route from October. The direct flights will be
carried out twice a week Sundays and Tuesdays.
It is believed that the expansion of economic cooperation
between Kyrgyzstan and Azerbaijan is in direct relation to the
establishment of effective transport links between them.
It is expected that Azerbaijan and Kyrgyzstan will sign an
agreement on the avoidance of double taxation and prevention of
fiscal evasion with respect to income and capital, a protocol
between the State Social Protection Fund of Azerbaijan and the
Social Fund of Kyrgyzstan on cooperation in the field of compulsory
state social insurance and other documents in the near future.
Moreover, the Ministry of Communications and High Technologies of
Azerbaijan jointly with the Ministry of Transport and
Communications of Kyrgyzstan will consider the implementation of
cooperation in the field of e-government, as well as explore the
opportunities on using the services provided by Azerspace.
Diplomatic relations between Azerbaijan and Kyrgyzstan was established on January 19, 1993.
Azerbaijan and Kyrgyzstan are working together to strengthen their partnership in industry, trade, communications, and transportation fields. The two countries also intend to develop cooperation between their justice authorities.