Azerbaijan, Israel to sign an agreement about avoiding double taxation

Photo: Azerbaijan, Israel to sign an agreement about avoiding double taxation
 / Economy news

Baku, Azerbaijan, Feb. 13

Trend - Emin Aliyev

Azerbaijan and Israel are going to sign an agreement about avoiding double taxation, Director of the Israeli Institute of Export, Ramzi Gabai, told journalists during his visit to Baku on Feb. 13.

"We have conducted a meeting with the head of the Azerbaijani Investment Promotion Foundation (AZPROMO), Rufat Mammadov. As a result of that meeting the decision to intensify joint cooperation, for the development of which there is big potential and all necessary conditions was made", he said.

According to him, besides, Azerbaijan and Israel will start work on signing one more agreement in the field of standardization.

According to Gabai, Israel may bring new technologies to Azerbaijan.

"It is about different spheres: medicine, mobile technologies, agriculture and food industry. Our companies are interested in investing in chemical and technological parks, which are being constructed in Azerbaijan. At the same time, we can learn something from you - Israel is interested in Azerbaijan's experience in the energy sphere, in particular, oil and gas industry," Gabai added.

According to the information of the State Customs Committee of Azerbaijan, the trade turnover between Azerbaijan and Israel in 2013 was $1.28 billion. Almost all this volume, which was $1.26 billion last year, was provided by the export of Azerbaijani products. Last year, Azerbaijan imported Israeli products in the amount of $17.59 million.

Translated by R.A.

Edited by C.N.

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