Home / EMEA / Spain expressed interest in the Baku-Tbilisi-Kars (BTK) rail project

Spain expressed interest in the Baku-Tbilisi-Kars (BTK) rail project

Spain is ready to strengthen open political dialogue and bilateral cooperation with Azerbaijan in all spheres of mutual interest. The remarks were made by Spanish Minister of Foreign Affairs and Cooperation José García-Margallo y Marfil at a briefing following the talks with his Azerbaijani counterpart Elmar Mammadyarov.

Mammadyarov said Spain has expressed interest in the Baku-Tbilisi-Kars (BTK) project.

The 826-kilometer long BTK railway is a regional rail link project that connects Azerbaijan, Georgia, and Turkey. Azerbaijan has allocated a $775 million loan for the construction of the Georgian section of the railway. The project is financed by Azerbaijan’s state oil fund SOFAZ.

The foreign ministers of the two countries also signed a Convention for the Elimination of Double Taxation with Respect to Income and Property Tax and Prevention of Tax Avoidance.

This is the first official visit of the Spanish minister to Azerbaijan.

Spain recognized Azerbaijan’s independence in December 1991. Diplomatic relations were established in February 1992.

The trade turnover between the two countries amounted to about $158.4 million in 2012.

Source* http://www.azernews.az/

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