Azerbaijan, Baku /corr Trend Khalilova / Eldar Ismayilov, the President of Association of Azerbaijani Banks (AAB), paid a visit to Riga on 20 August to sign an agreement on cooperation with the Latvian Association of Commercial Banks. The document has been coordinated at the level of the AAB Presidium and recommended for signing, Farhad Aliyev, the Executive Director of Association said that he will meet with the President of the Latvian Association and representatives from the banking community.
After the definition of cooperation, representatives from the administration of the AAB may also visit Riga to familiarize with the mechanisms of the Latvian banking association. This proposal came from Teodors Tveriyons, President of the Latvian Association.
Tveriyons visited Baku to attend a workshop on mortgages, organized by the National Bank of Azerbaijan jointly with the Latvia's Embassy in Baku. Delegates from Latvia informed of their country's experience in this field.
The AAB has also established bilateral relations with banking associations of other countries. An agreement on cooperation was signed with banking associations from Ukraine and Belarus in June. Draft agreements to be signed with Uzbekistan and Kazakhstan are also being prepared and they will be signed no sooner than the autumn.