Azernews.Az

By Sara Israfilbayova

The Chamber of Auditors of Azerbaijan has signed a Memorandum of Understanding (MoU) with the Association of Accountants of Latvia.

Currently, the Chamber of Auditors of Azerbaijan cooperates with auditing and accounting organizations of almost 40 countries, including Latvia, the Chamber reported on July 3.

The signed agreement will positively affect the activities of both structures and will play an important role in the mutual exchange of experience and international support, said Vahid Novruzov, Chairman of the Chamber.

In turn, Chairman of the Association of Accountants of Latvia Andrejs Ponomarjovs expressed confidence that the bilateral cooperation will turn into a tradition in the future.

The parties also discussed the current situation with the audit in both countries, methods for solving existing problems and applying the best international experience in financial reporting.

Azerbaijan and Latvia often hold meetings and carry negotiations with the purpose of expansion of economic relations.

Priority areas of cooperation between the two countries include joint investment projects, effective use of international transportation corridors, education, agriculture, construction, tourism and health.

Latvia considers Azerbaijan an important partner in the field of transit and logistics in the South Caucasus region.

Trade turnover between Latvia and Azerbaijan amounted to more than $350,000 in the first quarter of 2017, according Azerbaijan’s State Customs Committee.

The two sides have good cooperation in the political and cultural spheres. Azerbaijan and Latvia often hold meetings and carry negotiations with the purpose of expansion of economic relations.

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