Ambassador: Azerbaijan-Belarus turnover may reach $0.5 billion in 2011

Azerbaijan, Baku, March 11 / Trend U. Ismayilova /

Today's meeting of Azerbaijani and Belarusian businessmen is a new stage in developing bilateral relations between the two countries, Belarusian Ambassador to Azerbaijan Nikolai Paskevich said during a meeting of businessmen of both countries in Baku.

"This meeting will give a serious impetus to the development of existing relations between the two countries", ambassador said.

He said that today Azerbaijan and Belarus have signed about 70 agreements and contracts, 60 percent of which are intergovernmental.

The two countries made a decision to diversify relations, he said.

He said that the annual trade turnover between Azerbaijan and Belarus has increased five times from $30 million to $ 150 million over the last five years.

A decision was made during the mutual visits of both presidents to bring trade turnover up to $ 500 million per year and up to $1 billion in the long term prospect.

"I think that we will reach a $500 million-dollar-milestone as of 2011. Azerbaijan and Belarus have good conditions for cooperation. The entrepreneurs of both countries must be active to get the best results," he said.

During the meeting the president of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Adil Mammadov presented the economic opportunities of Azerbaijan and informed the participants about business and investment climate in the country. Total investments in Azerbaijan's economy amounted to about $ 95 billion over the last 15 years. Rouhgly $ 55 billion of them fall to foreign investments, and the rest - domestic investments. About $51 billion was invested in the non-oil sector.

The investments in Azerbaijan's economy in 2010 amounted to $15.5 billion, more than $ 9 billion of them were transferred to the non-oil sector of the economy.

Speaking about attractive Azerbaijani economy in terms of investments for foreign companies, Mammadov stressed the political and economic stability. The vigorous activity of a number of international financial institutions testifies to this.

Deputy director of the Belarusian Chamber of Commerce Vera Siracheva said that this is the third meeting between businessmen from both countries. The first meeting was held in 2009, the second - in 2010. Joint ventures were established as a result of these meetings, she said.

"During the current meeting in Baku, we familiarized with the work of the Sumgait industrial park. We would like to invite the Azerbaijani delegation to Belarus to get acquainted with the activity of our fleet of high technologies", she said.


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