Azerbaija, Russia's Bashkortostan may establish joint production of oil equipment

Business Materials 30 May 2018 16:31 (UTC +04:00)

Baku, Azerbaijan, May 30

By Azad Hasanli - Trend:

Companies from Russia's Bashkortostan Republic can set up production of oil equipment and caustic soda in Azerbaijan.

The members of the delegation from Bashkortostan discussed this issue with the Deputy Minister of Economy of Azerbaijan Niyazi Safarov, the website of the Government of Bashkortostan said in a report.

The delegation from Bashkortostan headed by Deputy Prime Minister Farhad Samedov is in Baku to participate in the 25th Anniversary Caspian International Oil & Gas Exhibition.

During the meeting, the parties stressed the need for pharmaceutical and chemical products in Azerbaijan. The head of the delegation Farhad Samedov stressed that Bashkortostan has a strong production and scientific potential in petrochemistry and pharmaceuticals.

Members of the delegation also met with the Minister of Energy of Azerbaijan Parviz Shahbazov. Representatives of the delegation discussed the prospects of cooperation in this area. The Azerbaijani side is interested in energy equipment produced in Bashkortostan and technological innovations in the field of petrochemistry. It is noted that the minister also accepted the invitation to attend the Russian Energy Forum, which will be held in Ufa city in October 2018.

According to the data of the State Committee of the Republic of Bashkortostan for Foreign Economic Relations, the volume of trade between Bashkortostan and Azerbaijan at the end of 2017 amounted to about $18 million.

Bashkortostan supplies Azerbaijan with wood products, chemical products, equipment for oil and gas industry, ferrous metals and products made of it, glassware, agricultural products and food products. At the same time, the share of non-raw non-energy exports amounted to 96.6 percent of the total volume of goods delivered to Azerbaijan. Agricultural products, food and other goods are imported from Azerbaijan.

Six enterprises with Azerbaijani capital in the sphere of agriculture, hotel business, catering, construction and trade operate in Bashkortostan.


Follow the author on Twitter: @AzadHasanli