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Azerbaijan, Russia to discuss protecting investments in Baku

Business Materials 28 September 2011 18:20 (UTC +04:00)

Azerbaijan, Baku, Sept. 28 / Trend E. Ismayilov /

Azerbaijani and Russian experts will discuss the issues within the intergovernmental agreement on "Promotion and mutual protection of investments" in Baku in mid. October, Russian trade representative in Azerbaijan Yuri Shchedrin told press on Wednesday.

He said that the process of preparing an intergovernmental agreement is being negotiated.
The meeting will be held on the initiative of the Azerbaijani side in Baku. The last meeting on this issue was held in Moscow in December last year.

The two governments fail to reach a compromise on the validity of the agreement, Shchedrin said. Azerbaijan proposes it to apply to the whole history of cooperation between Azerbaijan and Russia. Russia insists on the period, beginning from 1992.

This agreement is of great importance as Azerbaijani investments made to Russian economy are being seriously considered. Russian investors' funds invested in Azerbaijan also increase.

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