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Argentina, Azerbaijan ink economic cooperation agreement

07-27-2012 14:37 BJT

BUENOS AIRES, July 26 (Xinhua) -- Argentina and Azerbaijan signed here an economic and trade cooperation agreement, the Foreign Ministry said Thursday.

The deal was signed by Argentine Foreign Minister Hector

Timerman and his visiting Azerbaijan counterpart Elmar Mammadyarov at a business forum attended by business representatives of both countries.

"In addition to trade, we believe there are also excellent opportunities for us to cooperate in joint training and technology-transfer projects to strengthen the production capabilities of both countries," the ministry cited Timerman as saying in a statement.

"It is an important day, because we have given our ties with Azerbaijan an institutional framework after the signing of the agreement," added Timerman.

"In the past few years, Azerbaijan, like Argentina, has been one of the world's fastest growing economies, and its future outlook is unrivaled," said Timerman.

Mammadyarov said the two countries complement each other in many fields.

"Argentina is a leader in the field of agribusiness, while Azerbaijan leads in energy, oil and gas," he said, adding "the two economic spheres are fertile ground for fruitful cooperation."

In 2011, Argentina's exports to Azerbaijan reached 23 million U.S. dollars, while its imports from the Eurasian country totaled 13 million dollars, according to official figures.

Editor:James |Source: Xinhua

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