Azernews.Az

By Amina Nazarli

The deal on avoidance of double taxation between Azerbaijan and Sweden is expected to enter into force by year-end.

The statement was made by Swedish Chargé d'affaires Tomas Danestad during the opening of Electrolux store in Baku on November 22.

The cooperation between Swedish and Azerbaijani companies is increasingly developing, according to Danestad.

Noting that the trade turnover between Azerbaijan and Sweden declined this year, the diplomat linked it with the global trend that affects many countries in the world.

He emphasized that export of Azerbaijani energy resources such as oil and gas is a very important issue.

Sweden imported from Azerbaijan mainly raw materials and production of oil and gas industry, he said, further noting that there is a potential for development of cooperation in other areas, such as information technology.

"I think that we will achieve even greater cooperation between the two countries, especially after the agreement on avoidance of double taxation will come into force," he said.

Danestad also mentioned that Azerbaijan has a very high-quality agricultural products, and this area has great potential.

He believes that the fall in oil prices opened opportunities for Azerbaijan to develop non-oil sectors of the economy and make the economy more efficient, which will help attract even more investors.

Commenting over the talks on new agreement on strategic partnership between Azerbaijan and the EU, Danestad said that this agreement will have a positive effect on the development of trade relations between Azerbaijan and the EU countries, including Sweden.

"Azerbaijan and the EU had a break in relations. Out ties are now based on the partnership agreement of 1996, but today we need more strategic cooperation agreement. We see Azerbaijan as a part of Europe," said Danestad.

The European Council approved the granting of the European Commission and EU High Representative for Foreign Affairs and Security Policy the mandate to negotiate a new agreement with Azerbaijan on November 14.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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