Azerbaijan, Russia to hold another round of negotiations on investment agreement

Business Materials 22 September 2012 14:25

Azerbaijan, Baku, Sept. 21 /Trend D.Nasibova/

The holding of another round of negotiations on the project agreement 'Promotion and mutual protection of investments' is expected in a short run, RF trend representative in Azerbaijan Yuriy Shedrin reported to Trend on Friday.

"Negotiations on the project agreement are underway. They have successfully been accomplished on some issues. However, agreement haven't been reached on some fundamental issues",- the trade representative said.

In his words, another round of negotiations on this agreement, which is going to be held in Moscow, is expected in short run. An invitation has been sent to Azerbaijani party therefore.
The trade representative has previously stressed that the service terms of agreement, which happen to be the subject to disputes, is one of the major issues in the framework of negotiations.

"I suppose, that the agreement on diplomatic real estate signed on January 19, 2012 in Moscow was one of the obstacles preventing the compromise solution on the 'Promotion and mutual protection of investments' agreement, - Shedrin said.

The signing of the agreement is very important, as studies on Azerbaijani investment in Russian economics are being currently held. Moreover, Russian investments in Azerbaijan have also increased.

Some 233 companies with Russian capital were registered in Azerbaijan within from 2004 to 2010. Russian party has invested more than 400 million dollars in Azerbaijani economics in recent years. Azerbaijan is interested in investment activity of local companies in Russia, particularly in the region of North Caucasus.