AZERBAIJAN, FINLAND RESOLVE ISSUE ON AVOIDING DOUBLE TAXATION
вЂњAzerbaijan and Finland signed an agreement on avoiding double taxation,вЂќ the Azerbaijani Minister for Economic Development, Farhad Aliyev, told journalists. Major problem of entrepreneursвЂ™ interest amid the development of the bilateral cooperation, is the taxation and mutual facilitation and protection of investments the agreement on the second issue has been already signed, he stressed.
"Today the level of economic cooperation between Finland and Azerbaijan is not so high as weвЂ™d like. We have opportunities to expand it and all facilities have been offered for the attraction of investments and increase of goods turnover С'РѕРІР°СЂРѕРѕР±РѕСЂРѕС'Р°. The agreements on facilitation and protection of investments and avoiding the dual double taxation will enable to expand such relationships," Aliyev noted.
Mauri Pekkarinen, the Minister for Trade and Industry, voiced its agreement with his Azerbaijani counterpart that many problems many problems in the cooperation between Finland and Azerbaijan will be resolved amid the agreement on avoiding double taxation.
"At present few companies are represented in Azerbaijan and we will expand our participation in the market. The Finnish enterprises enter the top 10 world companies, which deliver services different segments, and together with the Azerbaijani partners they will essentially expand partnership,вЂќ Pekkarinen stressed.
According to the Finish Minister, from 1993 to 2003 Finland invested 63bn euros or over $70bn abroad.
In January to July 2005 Azerbaijan has exported to Finland products worth $136,800 and imported goods in the amount of $4116.9m. The goods turnover ended in balance $3980.1m in red.