Business

BAKU, TBILISI SIGN FOR ENERGY CO-OP

President of Azerenergy joint stock company Etibar Pirverdiyev and General Director of Georgian Electrodispatcherization-2000 open joint stock company B. Kozhoridze inked an agreement "On exchange of electricity supplies between Georgia and Azerbaijan" Tuesday, as the visiting Georgian Minister for Fuel and Energy David Mirskhulava witnessed the signing.

Under the deal, the two nations are to render mutual technical assistance in cases of power emergencies. The agreement is believed to regulate the functions, rights and responsibilities of the parties.

During the one-day working visit of the Georgian minister, a schedule-protocol was reached for Georgia to pay for electricity it has received from Azerbaijan. Starting June 14, Georgian energy officials have been repaying their accumulated arrears by relaying 1.3 million kW/h of energy into Azerbaijan. D. Mirskhulava's visit aimed to determine ways of mutually beneficial cooperation. Taking center stage in the negotiations was Georgia's huge energy debt to Azerbaijan, which has transformed over 150 million kW/h of power to the neighboring nation in technical assistance since 1996.

AZERBAIJAN's WTO ADMISSION NEGOTIATED IN GENEVA

A governmental delegation led by Azeri Minister for Economic Development Farhad Aliyev joined negotiations as part of the first meeting of the working group of the World Trade Organization (WTO) over Azerbaijan's admission to this organization in Geneva, Switzerland. Partaking in the meeting were representatives from 28 countries.

Addressing the gathering, F. Aliyev elaborated on the work done for WTO membership and achievements resulting from economic reforms. He touched upon the problems related to Armenian occupation of Azeri territories. The minister underscored that any regional cooperation was out of the question till Azeri lands were liberated and Armenia recognized territorial integrity of states.

Also speaking to the event, head of Turkey's WTO mission expressed his country’s full support for Azerbaijan's admission and called on other nations to contribute. Also backing Azerbaijan were representatives from the European Union, Georgia, Australia, Moldova, Japan, Latvia, Switzerland, Canada, Korea, and the US.

The second meeting of the working group to continue the negotiations is scheduled for March-April 2003, the Ministry of Economic Development has reported.