Baku, Azerbaijan, Oct. 21
By Maksim Tsurkov - Trend:
Azerbaijan and Belarus are negotiating to establish joint production of combines, adviser on trade- economic and investment issues of the Belarusian embassy in Azerbaijan Leonid Lavrov told Trend Oct. 20.
"The process of working out a project on joint production of grain and forage harvesters started in summer 2014," he said. "At present, the project is at the initial stage. The economic and legal aspects of the issue are being worked out."
Lavrov said that the two countries have an agreement on the establishment of joint ventures.
"There are always some counter-proposals," he said. "At present, a project of creating joint production of agricultural equipment on the basis of an Azerbaijan enterprise is being worked out. The negotiations on this project have been underway for a long time. The Belarusian side has already made its proposals. We are awaiting the decisions of the Azerbaijani colleagues."
He said that the level of mutual investments between the two countries increases.
"At present, Belorus is implementing four large investment projects with Azerbaijani direct investments worth about $ 13 million," he said. "Azerbaijani investors prefer to invest in the hotel and restaurant business, services, trade and logistics. A level of Belarusian investments in Azerbaijan is about $250,000. Mechanical engineering is the most attractive area."
At present, Belarusian tractors and other equipment are assembled on the Ganja Automobile Plant, where the production localization level is up to 50 percent.
Belarus and Azerbaijan also plan to increase trade turnover.
"The peculiarity of our trade turnover is that it is constantly growing regardless of any crisis," he said. "Currently it is $260.7 million. The trade turnover increased by 27 percent compared to 2013. We expect this figure to be increased by late 2014."
The official exchange rate is 0.7843 USD/AZN Oct. 21.
edited by CN