Azerbaijan, Vietnam to simplify trade procedures (UPDATE)

Details added (first version posted on 17:22)

Baku, Azerbaijan, May 12

By Azad Hasanli - Trend:

Azerbaijan and Vietnam will simplify trade procedures, Vietnamese deputy finance minister said in Baku May 12.

Vietnam's Deputy Minister of Finance Do Hoang Anh Tuan made the remarks during the meeting with the chairman of Azerbaijan's State Customs Committee Aydin Aliyev.

Anh Tuan added that simplification of trade procedures is envisaged in the draft agreement to be signed between the customs bodies of the two countries May 13.

"I believe that the agreement will be very productive for the business of both countries and create conditions for the mutual investments," he said, adding that to date, the two countries have signed 92 documents in the customs sphere.

Vietnamese deputy finance minister expressed hope that this agreement will create conditions for a closer and more effective cooperation between Azerbaijan and Vietnam.

He said currently, it is planned to sign a similar document with China, Russia, EU and Japan, adding that the preparations for signing the agreements with these countries are at the final stage.

Anh Tuan added that another agreement that envisages strengthening of cooperation in fighting drug smuggling and customs violations will be signed May 13.

'Vietnam can learn much from Azerbaijan in applying 'single window' principle as well," he said.
The customs bodies of the two countries play a role of a bridge in the development of economic relations between Azerbaijan and Vietnam, according to the deputy minister.

"The cooperation in the sphere of politics between Azerbaijan and Vietnam is at a high level," he said. "But we also want to strengthen the cooperation in the spheres of trade and economy."

A delegation headed by the President of Vietnam Truong Tan Sang arrived in Baku May 12. The visit will last until May 15. The agreements will be signed during this delegation's visit to Baku.
Moreover, Azerbaijan-Vietnam business forum will be held May 14.

The trade turnover between Azerbaijan and Vietnam stood at $79.76 million as of 2014, or almost four times less than in 2013, according to Azerbaijani State Customs Committee. This is while $75.37 million accounted for the export of Azerbaijani products to Vietnam.

Edited by CN

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Follow the author on Twitter: @AzadHasanli

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