Documents to Develop Economic Cooperation between Azerbaijan and Philippines Under Development

Business Materials 29 July 2008 17:23 (UTC +04:00)

Azerbaijan, Baku, 29 July / corr. Trend R.Novruzov / Azerbaijan and the Philippines intend to expand cooperation in economy.

Five draft agreements on trade and economic cooperation were submitted to the Philippines for consideration, Ibrahim Hajiyev, the Azerbaijani Ambassador to Indonesia, who is accredited in the Philippines, told Trend on 29 July. At the same time the Philippines submitted proposals on cooperation, which currently Azerbaijan is examining, the Ambassador said.

Representatives of the Philippines's business circle will visit Azerbaijan with the objective to get familiarization with country's investment opportunities soon.

Goods turnover between the Philippines and Azerbaijan amounted to about $0.5mln in 2007. More than $400,000 of them is Azerbaijani exports to the Philippines.

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