Azerbaijan, Baku /corr. Trend I.Khalilova / The Association of the Commercial Banks of Latvia approved the project of a cooperative agreement with the Association of Banks of Azerbaijan (ABA), ABA Executive Director, Farhad Aliyev, said on 12 July.
According to Aliyev, the document has already been coordinated by the ABA Executive Board and it is recommended that it be signed. The signing ceremony will take place no earlier than September after agreeing on the location of the signing.
In addition, the ABA Administration is preparing to visit Riga at the end of August and beginning of September to become familiarized with the working mechanism of the Latvian banking association. This proposal was made during the 7 June visit of the President of the Latvian association, Teodors Tveriyons, to Azerbaijan.
Tveriyons's participation at the seminar on mortgage crediting jointly organized by the National Bank of Azerbaijan and Latvian Embassy in Azerbaijan brought him to Baku. The Latvian guests came in order to provide information of their experience in the banking sector.
In addition, the ABA is establishing bilateral relations with the banking associations of other countries. In June, cooperation agreements were signed with the banking associations of the Ukraine and Belarus. Projects of agreements with Uzbekistan and Kazakhstan have already been prepared, which will all be signed no earlier than autumn.