Ukraine’s brands to greatly expand presence in Azerbaijan (Exclusive)
Baku, Azerbaijan, August 2
By Azad Hasanli – Trend:
Ten stores under ‘Ukrainian products’ brand are planned to open in Azerbaijan till the end of 2018, Ukraine’s Ministry of Economic Development and Trade told Trend Aug. 2.
Presently, eight stores operate in Baku, three of which opened in the second quarter of this year. Monthly sales volumes reach about 300 tons of products.
At the same time, not only the number of stores of Ukrainian products but also the number of countries where such stores will open are expected to increase. So, new stores will also open in Azerbaijan’s Sumgait, Ganja and Mingachevir cities.
"The product range is also expected to be expanded due to the supply of bakery, confectionery, canning, vegetable products and soft drinks to Azerbaijan," the ministry added.
The ministry also spoke about plans to open Ukraine’s Trade House in Azerbaijan. The corresponding legal entity - Ukraine Trade House LLC - has already passed registration in the country.
"Negotiations are underway with Ukrainian companies to conclude agreements on cooperation within the trade house with the purpose of creating the authorized capital and making financial contributions to rent premises in Baku and attract staff," the ministry said.
Azerbaijan and Ukraine have been actively developing economic cooperation recently.
Azerbaijan’s first trade house opened in Kiev in June 2018. Similar trade houses are planned to open in other cities of the country.
Direct investments from Ukraine to Azerbaijan exceed $25 million, while from Azerbaijan to Ukraine - $200 million. Ukraine is one of the main trade and economic partners of Azerbaijan.
According to the Azerbaijani State Customs Committee, the trade turnover between Azerbaijan and Ukraine amounted to $343.87 million in Jan.-June 2018, while $197.3 million accounted for the import of Ukrainian products.
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