A memorandum on mutual cooperation was signed between the Azerbaijani Insurers Association and the Agricultural Insurance Fund, as MENAFN informed.

The memorandum will help the two structures develop agroinsurance services and the insurance market of Azerbaijan in general. According to Elmar MIRSALAYEV, Executive director of the Insurers Association, this cooperation will allow joint implementation of priorities in development of the insurance sector.

Fuad SADIGOV, Board Chairman of the Agricultural Insurance Fund, believes that the agreement will stimulate development of a new agroinsurance mechanism in Azerbaijan and formation of agroinsurance skills of the existing and potential insurers.