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Azerbaijan, Spain to accelerate signing of double taxation avoidance agreement

Business Materials 20 October 2011 19:04 (UTC +04:00)

Azerbaijan, Baku, Oct. 20 /Trend, N.Ismayilova/

The signing of the double taxation avoidance agreement between Azerbaijan and Spain will contribute to the increased activity between the business circles of the two countries, the Secretary of State for Foreign Trade of Spain, Alfredo Bonet, told Trend. Mr. Bonet is on the first official visit to Azerbaijan on Oct.19-20.

"The main aspect for us is to prepare the conditions and then businessmen and companies will collaborate more active. We have also spoken about trying to speed up the signing of the agreement which we had negotiated in the past years with the government - agreement of avoiding double taxation between Azerbaijan and Spain," Bonet said.

He said the delay in signing the agreement is linked with the emergence of a number of technical issues, as well as the accurate translation of the document in both languages.

"The Azerbaijani and Spanish governments have to set the appropriate environment for the developing of business, we have to organize the seminars to show the companies the opportunities of investment," he said. "But we are coming to the Azerbaijani market and we have already some examples."

He said the Spanish company is building the auditory, which may host the Eurovision-2012. Another Spanish company awarded to control the first Azerbaijani satellite Azerspace and a number of other companies participated in some infrastructure projects in the country.

"At least, now 4-5 Spanish companies are bidding for important infrastructure projects in the country," Bonet said. "We are aware about the close relations that exist between Azerbaijan and Turkey. The fact that Spanish companies in such spheres as energy, oil and gas, infrastructure and refineries have been so successful in Turkey makes us think that they will be very successful here."

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