Azerbaijan is one of the priority countries for Belarus, said President Alexander Lukashenko, receiving on Friday a Prime Minister of Azerbaijan, Artur Rasi-zade.
"We are absolutely open to you, we can supply you any range of products, just like you can sell us any range of products, and there are no forbidden topics for joint ventures that we are doing in Azerbaijan," said the Belarusian leader.
"I want you to ask you to remember that you have a very close country of Belarus, and you can always come here with investments, we will always support you," said Lukashenko.
In turn, Rasizade said Azerbaijan will cooperate with Minsk in political and economic spheres.
According to unofficial data, the Belarusian side offered Azerbaijan to participate in the privatization of a number of major companies in the country, and the visit by Rasizade is connected with this offer.-02D-
Economics
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Azerbaijan's financial standing continues to strengthen as the country's foreign currency reserves have surged to $71 billion as of January 1, 2025, according to the Ministry of Finance. This figure, which includes reserves held by the State Oil Fund of Azerbaijan (SOFAZ) and the Central Bank of Azerbaijan (CBA), far exceeds the nation's external debt, which stands at a fraction of its reserves, specifically nearly 14 times less. This robust reserve position reflects Azerbaijan's fiscal stability and the government’s strategic economic management.
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According to operational data from the Ministry of Energy of Azerbaijan, in January 2025, the country produced 2.3 million tons of oil, including condensate, and 3.9 billion cubic meters of gas.
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The State Oil Company of Azerbaijan (SOCAR) has opened a representative office in Albania and is set to launch a specific project this year, the Albanian company "Albgaz" announced.
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"Azerbaijan is currently among 54 middle-income countries," said Shahmar Movsumov, head of the Economic Affairs and Innovative Development Policy Department of the Presidential Administration, during the presentation of the World Bank’s World Development Report 2024 in Baku on February 10.
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