Date on Holding a Sitting of Azerbaijani-French Intergovernmental Commission Known

Business Materials 15 December 2006 15:16 (UTC +04:00)

The date on holding 4th sitting of the Azerbaijani-French intergovernmental commission has been fixed to January, 9, 2007. The forthcoming event is expected to be held in the French capital, a source in the Azerbaijan Economic Development Ministry told Trend.

At present, works on preparation of a protocol of the sitting are underway. The protocol will reflect main priorities of the cooperation. Up to date, the most part of French investments have been sent to the oil sector of the country. Eighty percent out of $500 mln. invested to Azerbaijan's economy by French investors fall at the fuel and energy complex of the country. The main aim of the Azerbaijani Government is to attract investments to the non-oil country. During the visit of French business-circles to Azerbaijan, such possibilities were considered. French entrepreneurs showed their interest toward establishing the production of diary products in Azerbaijan. They also showed interest to the vine-making industry of the country, as well as other agricultural projects.

A legal base has been founded for the influx of French investments in Azerbaijan. Agreements on protection mutual investments, as well as on avoiding the double taxation were signed between the countries, the source in the Azerbaijan Economic development Ministry said.

In January-September, 2006, the commodity turnover between the two countries reached $323 mln. At the same time, the total volume of export operations was $277 mln., and the import reached $45 mln. In this period, the country imported the following goods from France: chicken, sausages, alcohol drinks, tobacco products, medicals, mechanical appliances, carriers, furniture, etc. Azerbaijan exported mainly crude oil and diesel fuel to France.