Azernews.Az

By Sabina Idayatova

Azerbaijan and Georgia have similar priorities ensuring stability in the South Caucasus region, Azerbaijani Foreign Minister Elmar Mammadyarov said at a reception organized in the Georgian embassy in the U.S. on June 5.

"Azerbaijan and Georgia have extensive experience of joint cooperation, and our relations are developing dynamically. This is reflected in close economic and political relations," Mammadyarov told Georgian journalists.

Mammadyarov said frequent meetings with his Georgian counterpart allow the determination of prospects of bilateral relations and solution of regional issues.

The reception hosted by the Georgian embassy was arranged on the occasion of the Independence Day of Georgia. US Deputy Assistant Secretary of State Eric Rubin and other senior State Department officials were in attendance.

Azerbaijan and Georgia established diplomatic relations in 1992 -- a year after gaining independence from the Soviet Union. In October 1997, Azerbaijan and Georgia became two of the four founding members of GUAM, an organization which also comprises Ukraine and Moldova.

Along with broad cooperation in regional energy development, transport, economic and other important projects, Azerbaijan and Georgia have long-standing and successful cooperation in the energy sector. Azerbaijani state oil company SOCAR is closely involved in the energy market of the neighboring South Caucasus republic.

Azerbaijan has long been the second biggest trade partner of Georgia. According to the Georgian statistics body, Azerbaijan accounts for 12.2 percent of the neighboring country's foreign trade.

The two countries have so far signed about 90 bilateral agreements, with 50 of them associated with economic relations.