The second meeting of the Azerbaijani-Romanian intergovernmental commission on economic cooperation is expected to be held on October 10. According to the Cabinet Ministers of the Country, the meeting will be held in Baku within the visit of Romania`s President Trojan Basesku to Azerbaijan to be held on October 10-11, 2006, Trend reports. At present, an expert group is working on the agenda of the meeting of the commission.
Yagub Eyubov, the first Vice-Premier is the Azerbaijani Co-Chairman. Radu Berchano, Romania`s Transport, Construction, and Tourism Minister is the Co-Chairman from the Romanian party.
The main issues to be discussed within the second meeting are the development of trade and economic cooperation between the two countries in the field of fuel and energy complex, transport, etc. In addition, documents to be signed within the visit of the Romanian President to Baku will be worked through as well.
Notably, the first meeting of the commission was held in Bucharest on October 7-8, 2004.
As results of January-July 2006, the foreign trade turnover between Azerbaijan and Romania was $82.9 m. This figure increased by 48 percent versus the corresponding period of the lat year. The export operations in this period were conducted to the sum of $79.25 m, with the increase at the level of just 0.5 percent that reached $3.176 m. The Romanian commodity nomenclature to Azerbaijan consists of vegetable oils, wood, plates, black metal products, furniture, and its spare parts, etc. Azerbaijan`s export to Romania: crude oil, kerosene, isopropyl, and propyl alcohol, nastein (acid), ethers, propylene, Balsam Wool, etc
The legal base between the two countries began forming starting from 1995. Totally 10 agreement have signed between the two countries up to date.