The 7th meeting of the intergovernmental Belarus-Azerbaijani commission for trade and economic cooperation, chaired by Deputy Prime Minister of Belarus, Vladimir Semashko and the Deputy Prime Minister of Azerbaijan Yagub Eyubov, was held on 27 August in Minsk, according to BELTA agency.
The parties discussed the issues of cooperation in various fields, the expansion of
relations, prospects of cooperation in the field of leasing, supplies of Belarusian equipment to Azerbaijan.
The meeting resulted in signing a protocol on expansion of cooperation between JSC "Amkodor" and Ganja automobile plant.
Plant for assemble Belarusian tractors, able to produce 800 cars a year operates now in Ganja. The plant assembles also trucks and MAZ. Last year it assembled 650 vehicle sets. Azerbaijan needs even more automotive, municipal, road-building machinery. For this purpose, it was planned to develop industrial cooperation with "Amkodor".
The parties also intend to intensify cooperation in the field of IT-technologies, space research, nanotechnology and biotechnology. Azerbaijani shows interest in the Belarusian High Technology Park.
In 2011, Belarus-Azerbaijan trade totaled more than $ 1 billion (increased by seven times), including Belarusian export - $ 200 million (increase by 43% compared with the previous year.) The main export to Azerbaijan were parts and accessories to trucks and tractors, timber.
In 2011 Belarus imported from Azerbaijan crude oil amounting $816.4 million, petroleum products - $ 3.9 million, as well as tobacco, fruit and vegetable juices.
Over the first half of 2012, there has been decline in turnover due to the lack of supply of Azerbaijani oil to Belarus, as well as reduction of government orders of Azerbaijan for the assemble of MAZ at "Ganja Automobile Plant." As a result, turnover was $ 92.3 million, and decreased compared with the same period of last year to 84.1%. Exports amounted to $ 85.7 million (decrease by 30.6%), import - $ 6.6 million (decrease by 98.5%.) However, over six months of 2012 almost in all sectors, except machinery and pharmaceutics, provided the increase of exports by 10-44%. The next meeting of the intergovernmental commission will be held in Baku in 2013. -0-
Economics
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Azerbaijan’s state oil company SOCAR signed a memorandum of cooperation with North Macedonian company ECM on Thursday, during a visit to Baku by North Macedonia's President Gordana Siljanovska-Davkova, an informed source told Turan.
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Discussions were held in Baku within the framework of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, focusing on the "Decarbonization and Climate Adaptation of the Cotton-to-Clothing Value Chain." Among other topics, the state of cotton farming in Azerbaijan was also addressed.
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Azerbaijan has attracted significant interest from companies in both developing and developed countries, as well as from state and private sector representatives of at least 10 nations, regarding participation as shareholders in the Climate Finance Action Fund (CFAF), which has a total budget of $1 billion. The CFAF is one of Azerbaijan’s 14 key initiatives unveiled at COP29, Yalchin Rafiev, Azerbaijan's chief negotiator at COP29 and Deputy Foreign Minister, said at a press conference on Tuesday.
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The Azerbaijani government has proposed that the OPEC Fund participate in financing several renewable energy projects, including offshore wind energy development, green energy corridor initiatives, and a 1 GW project planned by SOCAR in partnership with the UAE-based company Masdar.
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