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GEORGIA TO REPAY AZERBAIJAN’S DEBTS

Business Materials 19 July 2005 18:34 (UTC +04:00)

Georgia intends to repay its liabilities to Azerbaijan in money, Zurab Nogaideli, the Georgian Prime Minister told Tuesday. An agreement on Georgia’s liabilities to Azerbaijan has been initialed now the relevant interstate procedures are underway.

In his turn Azerbaijani President Abbas Abbasov said that the issue was discussed under the meeting of the Azerbaijani-Turkish commission on economic cooperation, held in Ganja on Monday and a relevant agreement was achieved.

Georgia’s debts to Azerbaijan comprise around $16.2m. Along with it at present Georgia’s energy debts to Azerbaijan is 32 million KW/h.

Nogaideli also noted that Georgia and Azerbaijan now continue the talks on delivery of additional gas volumes to Georgia under Stage 1 of Shah-Deniz project.

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