Azerbaijan, China to enhance trade and economic legal framework

Azerbaijan and China are ready to discuss improving the contractual legal framework in the trade and economic field and actively study the possibility of creating an institutional mechanism for liberalizing and simplifying trade and investment procedures.

This initiative is highlighted in the "Joint Declaration on Establishment of Strategic Partnership between the Republic of Azerbaijan and the People's Republic of China," adopted on 3 July within the framework of the Shanghai Cooperation Organization summit in Astana, Caliber.Az reports per the document in question.

The declaration notes that both sides reaffirm their firm support for the multilateral trading system under the auspices of the WTO. China supports Azerbaijan's active participation in the development and cooperation of the international multilateral trade system, as well as the actions taken by Azerbaijan within the framework of its accession process to the WTO.