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
-
On July 26, the Ministry of Economy hosted a meeting with entrepreneurs from the non-oil industry to explore ways to stimulate local production and enhance export potential.
-
Azerbaijani internet service providers Aztelekom and Baktelekom will introduce substantial changes to their pricing structure starting August 15, the companies announced today. Under the new tariffs, the minimum internet speed will rise to 100 Mbit/s, with the cost per Mbit/s decreasing from 0.45 AZN to 0.25 AZN. As a result, monthly charges will be set at 25 AZN for 100 Mbit/s, 30 AZN for 150 Mbit/s, and 36 AZN for 250 Mbit/s.
-
Independent experts suggest that Azerbaijan may be on the verge of another devaluation of its currency, the manat, due to a shrinking trade and payment surplus. The anticipated economic adjustments come amidst a decline in foreign currency inflows and reduced oil production.
-
Azerbaijan’s Foreign Minister Jeyhun Bayramov met today with Ahmed Moallim Figi, the Minister of Foreign Affairs and International Cooperation of Somalia, at the Azerbaijani Foreign Ministry. This meeting followed a discussion held the previous day between Figi and Azerbaijan’s Economy Minister Mikail Jabbarov.
Leave a review