Agreement between the Government of the Russian Federation and Government of the Azerbaijan Republic on the basic principles and directions of economic cooperation

of January 25, 2002

The government of the Russian Federation and the Government of the Azerbaijan Republic which are hereinafter referred to as with the Parties

being guided by the Treaty of friendship, cooperation and mutual safety between the Russian Federation and the Azerbaijan Republic of July 3, 1997, and also the conventional principles and rules of international law,

for the purpose of development economic and sci-tech cooperation on the principles of equality, respect of the state sovereignty and mutual advantage,

proceeding from aspiration to further strengthening and development of mutually beneficial relations in trade and economic, scientific and technical, production and technological and humanitarian areas on long-term basis for the benefit of both states and growth in prosperity of their people,

attaching importance to carrying out economic reforms, structural adjustment of economy, creating favorable conditions for development of integration bonds between business entities of both states,

agreed as follows:

Article 1

The parties perform trade and economic cooperation on the basis of long-term partnership, the principles of equality, mutual advantage, by direct interaction between business entities (irrespective of form of business) the states of the Parties, and also between public authorities of the Parties taking into account the universally recognized norms of international law and the national legal system of the states of the Parties.

Each of the Parties in the territory of the state according to the legislation creates favorable conditions to the cooperating business entities, public authorities and the organizations of both states, provides immunity of the property rights of legal entities and physical persons of the state of other Party, abstains from the actions capable to cause damage to interests of other Party.

Disclaimer! This text was translated by AI translator and is not a valid juridical document. No warranty. No claim. More info