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Azerbaijan, Japan to strike deal on investment promotion and protection

Economy Materials 22 October 2014 16:32 (UTC +04:00)
Azerbaijan and Japan are going to sign an agreement on promotion and mutual protection of investments,
Azerbaijan, Japan to strike deal on investment promotion and protection

Baku, Azerbaijan, Oct. 22

By Azad Hasanli - Trend:

Azerbaijan and Japan are going to sign an agreement on promotion and mutual protection of investments, the Economy and Industry Minister of Azerbaijan Shahin Mustafayev said Oct. 21.

He made the remarks at a meeting with a delegation led by Yoichi Kobayashi, the Vice President of Itochu Corporation, and Co-chair of the Japan-Azerbaijan Intergovernmental Commission on Economic Cooperation.

A draft agreement was presented to the Japanese side during the meeting, the Economy and Industry Ministry said Oct. 21.

During the meeting, the minister highlighted the development of ties between Azerbaijan and Japan in various areas, including in the economy. He also stressed the importance of mutual visits by the heads of the two states in expansion of cooperation.

During the meeting it was noted that to date Azerbaijan and Japan have signed 17 documents on cooperation in various fields. Some 19 companies with Japanese capital operate in Azerbaijan.

Mustafayev pointed out the role of the economic cooperation commission, as well as the business forums, working visits and exhibitions in the development of relations between the two countries.

During the meeting it was noted that the signing of the agreement on promotion and mutual protection of investments between the governments of Azerbaijan and Japan has significance in terms of the future development of economic ties.

In turn, Yoichi Kobayashi expressed satisfaction with his visit to Azerbaijan and emphasized the great possibilities for development of relations between the two countries.

He also underscored the role of the intergovernmental commission in the development of ties between the two countries.

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