A delegation of the Azerbaijani government and business is to visit Minsk December 19-20, at the initiative of promoting exports and investment in Azerbaijan.
They will take part in a bilateral business forum in a special exhibition.
Belarusian businessmen, as well as state-owned enterprises of the country twice (2007 and 2009) visited Baku to attend national exhibitions of goods.
The State Customs Committee of Azerbaijan, for 10 months of 2012, imports of goods from Belarus grew by 6% to $ 57.8 million with sharply reduced Azeri exports to Minsk. If in January-October 2011 Belarus buys products from Azerbaijan to $ 533.5 million, for the same period of 2012, the figure dropped to $ 9.6 million,
The sharp decline of Azerbaijani export was due to the cessation of oil supplies to Belarus. State Oil Company of Azerbaijan swaps implement Venezuelan oil varieties Santa Barbara in the U.S. market, while the Azerbaijani oil on behalf of Venezuela in the same amount has been implemented in Belarus.
Minsk in a European embargo imposed for the violation of human rights, is interested in increasing its imports of non-liquid products in other markets. The negative balance of foreign trade of Belarus has already reached $ 500 million
Russian experts predict a worsening of the situation in 2013. According to the forecast of Economic Development of Russia, the current account deficit will rise to Belarus from 2.1% of GDP this year to 4.7% in 2013, 6.8% - in 2014, and 10.7% - in 2015. -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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