Azerbaijan, the Netherlands to work out investment agreement soon

Photo: Azerbaijan, the Netherlands to work out investment agreement soon / Economy news

Baku, Azerbaijan, April 23
By Emin Aliyev - Trend:

The formulation of the intergovernmental agreement between Azerbaijan and the Netherlands on promotion and mutual protection of investments, is close to completion, Azerbaijani Minister of Economy and Industry, Shahin Mustafayev said on April 23, while speaking at the Azerbaijani-Dutch business forum in Baku.

"Successful and effective political ties between our countries have created opportunities for expanding their economic cooperation. Currently, around 170 Azerbaijani entrepreneurs operate in the Netherlands, while 108 Dutch companies operate in Azerbaijan," Mustafayev said.

The mutual interest is as high as the interaction potential, according to the minister.

"The trade turnover between our countries has increased by 24 percent in 2013. This trend continued in the first quarter of 2014: the trade turnover between Azerbaijan and the Netherlands increased by almost 20 percent compared to the same period of 2013. Dutch companies have made nearly $670 million direct investments in Azerbaijan's economy and rank fourth on this index among the countries investing in Azerbaijan's economy," Mustafayev added.

Translated by L.Z.

Edited by C.N.

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