Azernews.Az

The Turkmen Parliament approved and unanimously ratified an agreement with Lithuania in the financial sector, the Turkmen government reported.

The bill on 'Ratification of the agreement on the avoidance of double taxation and prevention of fiscal failure with respect to taxes on income and capital between the Turkmen and Lithuanian governments' was earlier submitted to the parliament for discussion.

The agreement was signed in June 2013 during Lithuanian Prime Minister Algirdas Butkevicius's visit to Ashgabat, where he held talks at the highest level and in an intergovernmental format.

Several documents, namely the agreement on economic cooperation and a memorandum of understanding were signed between the Turkmen Chamber of Commerce and the Lithuanian Association of Commerce and Industry and Crafts following the talks.

The two countries eye the possibility of creating a new route connecting the regions of the Caspian, Black and Baltic Seas, opening great prospects for increasing regional and inter-regional trade and economic relations in Eurasia and in particular with the Baltic countries.

The energy sector and a number of industries including textile as well as high technologies were called among other promising areas of cooperation between the states.