Belarus interested in growth of Azerbaijani investments

Business Materials 21 December 2011 15:34 (UTC +04:00)

Azerbaijan, Baku, Dec. 21 / Trend S.Agayeva /

The Belarusian government is interested in Azerbaijani investments, Belarusian ambassador to Azerbaijan Nikolai Paskevich told reporters in Baku on Tuesday.

"Azerbaijani investments are entering and there are serious projects, but their volume does not match the existing potential," he said.

According to Paskevich, Belarusian government has some serious proposals.

"We invite Azerbaijani investors to invest in such spheres as production of up-to-date technology, development and drilling of artesian wells to get drinking water, rework of agricultural products," he said.

In addition, Paskevich noted there are plans to increase trade turnover to $1 billion in 2012.

According to the State Statistics Committee, trade turnover between Belarus and Azerbaijan has increased in seven times in January-July of 2011 compared to the same period in 2010 to $501.5 million, export of Azerbaijani goods amounted to $462 million.

The Belarusian export to Azerbaijan includes engineering produce, food products, wood industry, construction, medicines, household appliances and petrochemicals.

Belarus imports from Azerbaijan oil, agricultural products (juice, nuts, tobacco), fabrics of synthetic filament yarn, acyclic alcohols, bentonite and aluminum. The first deliveries of Azerbaijani oil to Belarus began in 2011, resulting in a significant increase in bilateral trade turnover.

Over 300 Belarusian companies supply goods to Azerbaijan. Azerbaijan assembles Belarusian tractors, trucks, boom trucks, municipal vehicles, optical equipment and elevators. In 2010, the assembly plants provided about 50 percent of Belorussian exports to Azerbaijan.

The leader of Belarusian-Azerbaijan cooperation in the field of industrial cooperation is Ganja car plant. The cooperation in the field of service is expanded. A regular air traffic Baku-Minsk route has been arranged.

Belarus sees the development of industrial cooperation among the prospective directions of cooperation, including the production of mounted and towed equipment, combines, repair of coaches, comprehensive cooperation in the field of agriculture, deliveries of buses, elevators, cars of MAZ, tractors and other agricultural machinery, medicines, glass ware, wood products, the implementation of joint projects in science technical sphere, education, transport, information and communication technologies, investment cooperation and leasing.