Ukraine, Kiev / corr Trend Z.Novosvitskiy / The President of the Association of Ukrainian Banks (AUB), Alexander Sugonianko and the President of the Association of Azerbaijani Banks (AAB), Eldar Ismayilov finalized a contract on cooperation.
The agreed-upon terms included assisting in the development of economic relationships between the Ukraine and Azerbaijan, consolidation of business contacts, and development of mutually profitable cooperation between the member-banks of the two Associations.
The parties agreed upon contributing to the resolution of disputes between the Azerbaijan and Ukraine banks on the basis of the legislations of the two countries.
AAB, which was founded in 1990, unites forty-four banks and three credit unions.
AUB was founded in 1989 as an Association of commercial and cooperative banks of the Ukraine. As of the beginning of 2006 AUB had approximately 150 financial units.