Baku, Azerbaijan, Nov. 14
By Maksim Tsurkov - Trend:
International Bank of Azerbaijan and Eximbank of Russia signed an agreement on cooperation in the foreign-economic field.
The document was signed by IBA Chairman of Board Jahangir Hajiyev and Chairman of Board of Eximbank of Russia Dmitry Golovanov.
The document was signed as part of the seventh International Banking Conference of the CIS member-states in Baku Nov. 14.
"One of the key positions of this agreement is an opportunity of using the national currencies in our joint work," Golovanov said. "The foreign trade calculations in rubles and manats, particularly in the current circumstances, will positively affect the development of the trade-economic and political relations between Azerbaijan and Russia. Of course, this will reduce the currency and political risks for banks and exporters while conducting the export operations from Russia to Azerbaijan and from Azerbaijan to Russia. This agreement opens up new opportunities for exporters of Russia and Azerbaijan. It will be easier for them to enter the markets of both countries."
edited by CN