BELARUS NEWS AND ANALYSIS

DATE:

11/01/2008

Baku hosts Azerbaijan-Belarus Business Forum

The FINANCIAL -- According to APA-Economics, Azerbaijan's Ministry of Economic Development and Azerbaijan Export and Investment Promotion Foundation (AzPromo) have opened Azerbaijan-Belarus Business Forum in Baku on January 11.

Niyazi Safarov, Azerbaijan's Deputy Minister of Economic Development, briefed the participants about the country's economy, economic growth rate and development of non-oil sector in regions.

"Reduction of poverty underlies the economic policies of both Azerbaijan and Belarus," he added.

He noted that more than $45 billion has been invested in Azerbaijan since 1995, of which 70% is foreign capital.

"$4 billion was invested in the first half of 2007 alone. Trade turnover between Azerbaijan and Belarus was a bit above $20 million in 2006 but tripled to $60 million in January-July, 2007. The both parties have good potential to boost trade," he underlined.

Nadejda Kotkovets, Belarus' Deputy Minister of Agriculture and Food, added that economic and commercial relations between Azerbaijan and Belarus is the stage of evolution and is not at the desired level.

"Even we shouldn't follow the growth rate and we should go ahead very rapidly," she added.

The business forum brought together 32 companies from Azerbaijan and 15 from Belarus.

Source:

http://finchannel.com/index.php?option=com_content&task=view&id=4036&Itemid=38