Azerbaijan and Germany signed Agreement on technical cooperation

Business Materials 23 June 2006 16:27 (UTC +04:00)

On June 23, an Agreement was signed between Azeri Ministry of Economic Development (MED) and German government on technical cooperation. The agreement covers the projects Support to development of private sector, Support to legal and court reforms, Fund for investigations and specialists for technical cooperation, Trendreports with reference to the press-release of the Ministry.

From Azerbaijani side the document was signed by the minister of economic development Heydar Babayev and from German side by the ambassador of German to Azerbaijan Detlef Lingeman.

Due to the financial assistance of German government to Azerbaijan, the projects of Support to development of private sector, Reforms in legal and court sphere, technical assistance to investigations and upgrade the training of specialists were realized in Azerbaijan. At the expense of the effectiveness of these projects, an agreement was reached on

their continuation. The financial assistance to the realization of the projects totals 5 mln euros. The private sector is intended to be allocated 3,15 mln euros, court 1,5 mln euros and third one 700 thousand euros.

According to the agreement, the government will release the goods delivered to Azerbaijan within the project from license, customs and other state duties. Besides, the executor of the project German Technical Cooperation Organization will be exempted from all tax payments (in particular, additional tax value) and other state duties.

The partnership for the implementation of the project Support to legal and court reforms will be provided by the Ministry of Justice of Azerbaijan, but for other two projects Economic Development Ministry.