The Fourth meeting of the Azerbaijan-US Economic Partnership Commission

Baku/17.05.19/Turan: The Fourth meeting of the Azerbaijan-US Economic Partnership Commission was held in Baku on Friday.

The agenda included issues of the investment environment, reforms, tax structure, customs procedures, intellectual property rights in the United States and Azerbaijan, trade relations, investment (trading opportunities), cooperation in agriculture, food security, business, etc.

From the Azerbaijani side, the commission was headed by Finance Minister Samir Sharifov, from the US side, First Deputy Assistant Secretary of State for Economic and Business Affairs Peter Haas.

The Commission resumed work after a seven-year hiatus. "Azerbaijan is the largest US partner in the South Caucasus. Last year, trade between the two countries amounted to $ 860 million, including exports from the United States - $ 530 million, from Azerbaijan - $ 330 million. Today, the United States has directly invested $ 13.6 billion in Azerbaijan. Azerbaijan in the United States is $ 8.2 billion," said Sharifov.

According to Sharifov, there is a favorable business environment in Azerbaijan. He noted the US support for transnational energy and transport projects implemented by Azerbaijan. At the same time, he pointed out the existence of a number of issues "casting a shadow" on bilateral cooperation. In particular, he recalled adopted in 1992 the discriminatory Act 907 of the Congress amendment to the Freedom Support Act prohibiting state aid to Azerbaijan. He expressed the hope that the US government would take steps to eliminate this amendment.

Sharifov said that the US wants to invest even more investments in Azerbaijan and there is a favorable environment for this. In his opinion, the United States is showing interest in the tourism, transport, logistics and transit capabilities of Azerbaijan.

In turn, the US ambassador to Baku, Lee Litzenberger, noted that intellectual property rights in Azerbaijan are not sufficiently secured. He expressed the hope that important steps would be taken in this country in the country.

According to him, major US software exporters, pharmaceutical manufacturers do not face the problem of piracy in those countries where there is a reliable legal and judicial system. However, in Azerbaijan the rights to intellectual property are not sufficiently secured.

At the same time, he pointed out that Azerbaijan has achieved results in a short time thanks to reforms.

"The US companies gave positive feedback on tax and customs reforms. Reforms in the judicial and legal sphere give rise to hope for an improvement in this environment as well," the ambassador said.

He also noted the importance of the Southern Gas Corridor for Azerbaijan, for political and energy security.

Deputy Assistant Secretary of State Haas, for his part, noted that the meeting will discuss cooperation in the field of ICT, tourism, agriculture, transport, oil and gas, etc.

According to him, next week a representative of the US Secretary of State for Energy Affairs, as well as the Deputy Secretary of State, will arrive in Azerbaijan. -03B06-