Montenegro, Azerbaijan sign areements on combined transport, human resources, double taxation avoidance

Cetinje, Montenegro (13 March 2013) – Deputy Prime Minister and Minister of Foreign Affairs and European Integration Igor Lukšić and Foreign Minister of Azerbaijan Elmar Mammadyarov signed Tuesday the Agreement on International Combined Transport aimed at building a modern rail and maritime transport in order to protect the environment, and make an efficient alternative to road transport. The advantages of combined transport are numerous and are reflected in the protection of environment, primarily with regard to reducing noise, carbon emissions and traffic congestion, and in the imporovement of transport safety.

The two officials also signed the memorandum of understanding regulating the conditions, funds and mechanisms for cooperation between the two countries in human resources development field aimed at advancing public administration’s efficiency.

Montenegrin Finance Minister Radoje Žugić and Azerbediani Taxes Minister Fazil Mammadov signed the agreement between the two governments to avoid double taxation referring to income taxes. The agreement provides for the removal of tax barriers to investments, the application of the principle of equal tax treatment of individuals and legal entities of the contracting states and, ultimately, the advancement of economic ties and cooperation between Montenegro and Azerbaijan.