Azerbaijan, US to Discuss Date of Intergov’l Commission’s Meeting

Business Materials 18 September 2008 12:23 (UTC +04:00)

Azerbaijan, Baku, 17 September / corr Trend N.Ismayilova / the governments of Azerbaijan and the United States still continue the discussions about the date of the second session of the intergovernmental commission on economical cooperation, said the US Agency for International Development (USAID) senior economist for Azerbaijan, Paul Davis, The session will be held in Washington.

The discussions were numerously delayed before and last it was scheduled for autumn.

"We do not know the date of the session, because the negotiations with the governments are still underway," said Paul Davis.

As a result of the first session of the commission held on 7 February 2007, memorandums ob five projects were signed.

The main objective of the commission is to co-finance the implementation of social and economical projects by Azerbaijan and the U.S. governments.

The Azerbaijani-U.S. relationships are laid on three basic columns, including the maintenance of security - work and fighting with global terror, the maintenance of security in power engineering and the relevant issues will be viewed during the upcoming meetings; and the economy and reforms in the sphere of democracy. The first session of the commission focused on the third direction.

The U.S. side considers that the development of trade remains an important direction of the activities and will be continued in commercial direction in future.

The co-chairs of the commission are Azerbaijani Finance Minister Samir Sharifov and US Under Secretary of State Daniel Sullivan.

The United States with 20.7 % of lump investment holds the leading position in the country's economy. The total amount of the U.S. investment in Azerbaijan was $326.273mln in January-August 2008 and $653.726mln in 2007.

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