Azerbaijan, Baku, 18 January / corr. Trend I. Khalilova/ The Governments of Azerbaijan and Turkmenistan have agreed to develop an agreement on the adjustment of the debts that appeared in 1991-92 due to the purchase of Turkmenistani gas, the Cabinet of Ministers of Azerbaijan said on 18 January.
The decision to develop an agreement was made, within the framework of the first meeting of the Azerbaijan-Turkmenistan Inter-Government Commission on the Economic and Humanitarian Cooperation that was held on 17 January in Ashgabat.
The legal basis for the adjustment of the debt to Turkmenistan is expected to be signed till the end of May, so as to sign it in the course of year.
" Azerbaijan is ready to entirely adjust the debt in cash till the end of 2008, since it is impossible to agree on the goods exchange in the existing conditions (many public industries are privatized)," the source in the Government said.
The representatives of the Ministry of Finance and the National Bank of Azerbaijan will determine the amount of the debt in the process of the development of the agreement, since the sides have not reached to any agreement on this issue. However, the Commission has reached to an agreement in determining the sum.
The official Baku considers that Azerbaijan's debt for the purchase of the Turkmenistani gas was USA $18 bln., however Turkmenistan insists on USA $56 bln.- taking into consideration the interest of the payments.
Turkmenistan also does not take into consideration the goods sent from Azerbaijan in the 1990th in exchange of the purchased gas, as they were lost on the way. The Official Baku considers that Azerbaijan does not hold the responsibility for the losses.