Negotiations on investment agreement between Russia and Azerbaijan postponed again

Business Materials 19 November 2013 11:17 (UTC +04:00)

Baku, Azerbaijan, Nov. 19

By Emin Aliyev - Trend:

Another round of talks on the draft agreement on mutual encouragement and protection of investments between Azerbaijan and Russia ended without a result, one of the negotiators told Trend on Monday.

"As a result, initialling of an investment agreement between Russia and Azerbaijan was postponed again," the source said.

According to a negotiator, the Azerbaijani side agreed with Russian colleagues' amendments and proposals, but despite this the parties failed to agree on some key issues.

"So, the talks held in Baku ended without any result," the source said.

One of the major factors hindering the signing of the investment agreement is that the governments of the two countries cannot reach a compromise on the issue of extending the agreement for a particular period of time.

If the scenario proposed by Azerbaijan is adopted, a basis for challenging the results of privatisation of certain facilities in Russia may be created. Azerbaijan proposes that the agreement covers the entire history of cooperation between the two countries, but the Russian side insists on a period starting from 1992.