Last week review (May 19-23)

Analysis Materials 27 May 2014 13:38 (UTC +04:00)

May 19

Azerbaijan, Brazil to sign agreement on customs cooperation

Azerbaijan and Brazil will sign an intergovernmental agreement on customs cooperation, head of the Azerbaijani State Customs Committee Aydin Aliyev said at a meeting with the director of the revenue department of the Brazilian Customs Service Ernani Filho in Baku.

"Brazil is one of the main partners of Azerbaijan in Latin America," he cited.

Azerbaijan, Vietnam sign documents

After the meeting in an expanded format, the signing ceremony of Azerbaijani-Vietnamese documents was held.

"The Agreement on trade, economic, scientific and technological cooperation between the Government of the Republic of Azerbaijan and the Government of the Socialist Republic of Vietnam" was signed by Minister of Foreign Affairs of the Republic of Azerbaijan Elmar Mammadyarov and Foreign Minister of the Socialist Republic of Vietnam Pham Binh Minh.

"The Convention on the elimination of double taxation of incomes and property and prevention of tax evasion between the Government of the Republic of Azerbaijan and the Government of the Socialist Republic of Vietnam" was signed by Tax Minister of the Republic of Azerbaijan Fazil Mammadov and Finance Minister of the Socialist Republic of Vietnam Dinh Tien Dung.

May 21

Azerbaijan, Poland agree to cooperate in securities market development

The Azerbaijani State Securities Committee and the Polish Financial Control Agency signed a memorandum of understanding on bilateral cooperation, chairman of the state committee Rufat Aslanli said at the press-conference dedicated to the presentation of the results of implementing the twinning project "Bringing Azerbaijan on the securities market in line with EU legislation and institutional development of the Azerbaijani State Securities Committee".

International trade facilitation discussed in Baku

The first global conference of the International Network of Customs Universities "Trade Facilitation in post-Baltic period: implementation of policy" opened in Baku.

"Some 200 delegates from 65 countries and 20 international organizations are attending the conference," he added.

Azerbaijan, U.S. reach compromise on exchanging information on U.S. citizens' accounts

Azerbaijan and the U.S. Internal Revenue Service (IRS) agreed to conclude an intergovernmental agreement on implementation of the Foreign Account Tax Compliance Act (FATCA) by Azerbaijani banks, the Ministry of Taxes of Azerbaijan said.

"The most beneficial model was chosen among the proposed ones as a draft agreement, based on which the authorized bodies of the two countries will mutually exchange information on their account holders," the ministry said. "For Azerbaijan, this authority was entrusted to the Ministry of Taxes."

The finalization of development of the intergovernmental agreement, the completion of all necessary domestic procedures and signing of the document will take place prior to December 31, 2014, and after this the state structures of Azerbaijan and the U.S. will conclude an additional document regulating the practical organization of information exchange, ensuring privacy and other issues.

May 22

Azerbaijani president visited WorldFood Azerbaijan-2014 and AgriHort Azerbaijan-2014 international exhibitions

President of the Republic of Azerbaijan Ilham Aliyev visited the 20th WorldFood Azerbaijan-2014 and the 8th AgriHort Azerbaijan-2014 international exhibitions at the Baku Expo Center.

Minister of Agriculture Heydar Asadov informed the President of Azerbaijan that the WorldFood Azerbaijan-2014 exhibition was part of the famous WorldFood exhibition brand which brings together the biggest food industry exhibitions of Russia, Ukraine, Kazakhstan, Uzbekistan, India, Turkey and other countries. Its 20th anniversary the exhibition celebrates with a record number of exhibitors - 242 participating companies. Representatives of 36 countries of the world have joined the exhibition for the first time.

It was brought to the President's attention that represented in the AgriHort Azerbaijan-2014 exhibition were companies from the USA, Germany, Spain, Italy, the Netherlands, Russia, Ukraine, France and other countries. The exhibition features equipment for agriculture and poultry, as well as greenhouses, irrigation systems, animal and fish feed, seeds, fertilizer, etc.