Azerbaijan, U.S. to Sign Memorandum on Joint Financial Projects

Business Materials 19 November 2008 17:03 (UTC +04:00)

Azerbaijan, Baku, 19 November / Trend /Azerbaijan and the U.S. are about to sign a memorandum on mutual understanding on joint financial projects. The decision was taken during the second meeting of the Azerbaijani-American commission on economic cooperation in Washington on 17 November.

"U.S. offers the Azerbaijani Government to assume a share of financing of interesting projects. For this purpose, a special project will be designed soon," Samir Sharifov, the Azerbaijani Finance Minister and co-chairman from Azerbaijan, said at the meeting.

At present, a range of technical aid projects to Azerbaijan are financed by the U.S. through the International Trade and Development Agency.

Discussions were focused on four main issues- macroeconomic policy and development in Azerbaijan, trade and investment environment, economic reforms, as well as diversity of spheres of bilateral economic cooperation. 

The sides were represented by delegations, which included economy ministers and officials of American and Azerbaijani Governments. The discussions were held under the co-chairmanship of Sharifov and U.S. Assistant State Secretary on Economy, Energy and Business Issues Daniel Sullivan.

"I think that there is an impression in Azerbaijan that the U.S. economic interest in the country is due to the energy sphere. Indeed, this is a very important, but not the one part of our cooperation," Sullivan said.

Despite of the agenda was expanded, the ways to deepen the economic partnership will be found. During the previous discussions Sullivan informed of a new trade attaché position would be opened under the U.S. Embassy in Azerbaijan.

The bilateral consultations by a task group on the economic cooperation, taken into account the relations development dynamics between the both countries, passed to the economic cooperation commission by the proposal of U.S.

According to Sharifov, this is the result of turning of the American-Azerbaijani relations to strategic partnership.

On 19 November, the official currency rate is 0.8094 AZN/USD.

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