The agreement between the Minsk city executive committee (Republic of Belarus) and the Executive authority of the city of Baku (Azerbaijan Republic) about cooperation in trade and economic, scientific and technical and cultural areas

of August 8, 2001

The Minsk city executive committee and the Executive authority of the city of Baku which are hereinafter referred to as with the Parties

being guided by provisions of the Agreement on friendship, cooperation and mutual safety between the Republic of Belarus and the Azerbaijan Republic,

for the purpose of development on long-term and mutually advantageous basis of the trade and economic, scientific and technical and humanitarian relations, attaching importance to establishment and strengthening of direct connections, agreed as follows:

Article 1

The parties within the competences, with observance of national legal systems and on the basis of the principles of international trade and economic cooperation, will take and will perform the necessary measures aimed at the development and expansion of mutually beneficial and equal economic, trade, technical and cultural cooperation.

Article 2

The parties will create favorable conditions for joint productive, business and other economic activity, irrespective of pattern of ownership, being guided at the same time by the purposes of the maximum use of their opportunities in production of competitive goods and services.

Article 3

The parties will promote creation of joint businesses and productions, work on the organization of joint investment of objects and programs.

Article 4

The prices of the delivered goods and the represented services, and also conditions of deliveries and calculations will be established in contracts and agreements signed between business entities. Payments and calculations in trade between the parties will be perfromed according to the existing national legal systems.

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