Azerbaijan, Baku /корр. Trend I.Khalilova / The 5th meeting of the Azerbaijani-Belarusian Inter-Governmental Commission for Economic Co-operation are to be held in the first half year of 2008 in Minsk. The decision was made at the 5th meeting of the Commission.
The Commission stated that the mutually beneficial relations between the two countries have significantly expanded over the recent years, but the trade turnover does not reflect the real economical potential of the two countries. According to the Belarusian Co-chairman of the Commission, the Head of the Apparat of the Council of Ministers, Valerie Kazakevich, the trade turnover between the two countries has increased by 5 times over the recent five years, but as a result of 2006, the amount of the trade turnover reached $37 mln.
Additional measures are offered to further expand the trade turnover. Last year the products of agro-industrial complex amounting to $679,200 were exported from Azerbaijan to Belarus, and the Belarusian foodstuffs imported to Azerbaijan amounted to $688,400.
At present 12 firms and enterprises attended by the Belarusian side has been registered in Azerbaijan. Machine-Building Plant of Baku Workers and Belarusian MZKT co-operates with regards to the production of mobile drilling installations for drilling oil and gas wells.
The International Bank of Azerbaijan has opened an account to credit export and import operations. In addition, work is carried out to establish long-term and mutually beneficial relations between International Bank of Azerbaijan and Belpromstroybank JSC.