President of Kyrgyzstan Sadyr Japarov signed a law on the ratification of the agreement between the Cabinet of Ministers of Kyrgyzstan and the Azerbaijan-Kyrgyz Development Fund on the conditions of the fund’s stay in Kyrgyzstan, Trend reported on Monday.
The purpose of this law is to provide favourable conditions for the Azerbaijan-Kyrgyzstan Development Fund to operate on the territory of the country.
The agreement states that the Fund’s premises are inviolable, and representatives of the state structures of Kyrgyzstan can enter these premises for the performance of their duties only with the consent of the co-chairs of the Fund’s board of directors from Azerbaijan and Kyrgyzstan.
The agreement also provides that Fund employees and officials who are not citizens of Kyrgyzstan shall enjoy the privileges, immunities, exemptions and exceptions granted to diplomatic representatives of the relevant rank in Kyrgyzstan in accordance with international law and the practice in force in the country.
Also according to the agreement, goods and other property imported by the Fund for official use are exempt from customs duties, taxes and related fees in Kyrgyzstan in accordance with the procedure established for international organisations and their representative offices.
It should be noted that the “Agreement on the Establishment of the Azerbaijan-Kyrgyzstan Development Fund” was signed on 11 October 2022.
It should be recalled that the authorised capital of the Azerbaijan-Kyrgyz Development Fund is 25 million US dollars.