Kyrgyzstan Approves Deal To Host Joint Fund With Azerbaijan On Its Territory

(MENAFN- Trend News Agency) BISHKEK, Kyrgyzstan, April 22. President ofKyrgyzstan Sadyr Zhaparov has signed a law on ratification of theagreement between the Cabinet of Ministers of Kyrgyzstan and theAzerbaijani-Kyrgyz Development Fund on the conditions of the fund'sstay in Kyrgyzstan, Trend reports.

The goal of this law is to create ideal conditions for theAzerbaijani-Kyrgyz Development Fund's activities on the country'sterritory.

The agreement underscores the inviolability of the Fund'sfacilities, stating that representatives of Kyrgyzstan's statestructures may only enter with the permission of the Fund'sAzerbaijani and Kyrgyz co-chairmen.

Furthermore, it allows Fund staff and officials who are notKyrgyz citizens the same privileges and immunities as similardiplomatic representatives under international law and Kyrgyzstan'scurrent practices.

Imported items and other property designated for official use bythe Fund are also exempt from customs duties, taxes, and associatedcharges in Kyrgyzstan, following the established procedures forinternational organizations and their offices.

On October 11, 2022, the "Agreement on the Establishment of theAzerbaijan-Kyrgyz Development Fund" was signed.

The authorized capital of the Azerbaijan-Kyrgyz Development Fundstands at $25 million.

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