Türkiye ratifies agreement with Azerbaijan

Economy Materials 12 January 2024 10:42 (UTC +04:00)
Türkiye ratifies agreement with Azerbaijan
Farid Zohrabov
Farid Zohrabov
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BAKU, Azerbaijan, January 12. The Government of Türkiye has ratified a grant agreement with the Government of Azerbaijan, Trend reports, referring to the publication in T.C. Resmi Gazete (official newspaper of the Republic of Türkiye).

According to the publication, Türkiye was represented by the Ministry of Treasury and Finance (henceforth granting party), while Azerbaijan was represented by the Ministry of Ecology and Natural Resources (henceforth grant-receiving party).

All payments and transactions under the grant will be exempt from all types of taxes, fees, expenses, and fund payments.

The grant agreement is valid until December 31, 2025.

Certain articles of the agreement are summarized below:

- The grant will be used to finance the Azerbaijani-Turkish International Forestry Training Center and Smart Nursery Project.

- Construction and consulting tenders will be conducted simultaneously.

- The buyer of the project shall hand over the construction site to the contractor and consultant in a construction-ready condition and without any problems (electricity, infrastructure, water supply, etc.).

- Security of the construction site and workers will be provided free of charge by the grant-receiving party.

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