Finance

Finance

Trade turnover between Belarus and Azerbaijan to reach $1 bln this year

20 December 2011 10:28 (UTC +04:00)

Baku. Habil Suleymanzadeh - APA-Economics. The trade turnover between Belarus and Azerbaijan has increased by five times during 2006-2010 and totaled $ 150 million, the Ambassador of Belarus to Azerbaijan Nikolai Paskevich said at a press conference.

â€But 2011 was a real breakthrough year in relations between Azerbaijan and Belarusâ€, said the ambassador. Thus, trade between the countries in the last 7 months has increased by 7 times to $ 890 million. We expect that this figure will reach $ 1 billion in the near futureâ€.

To him, engineering and energy cooperation play a leading role in trade and economic relations between Belarus and Azerbaijan: â€œThe bilateral relationship has become a significant event in the export of Azerbaijani oil. The tripartite agreement between Azerbaijan, Belarus and Venezuela on oil transportation has allowed the Belarusian side to expand the geography of purchase and sale of oilâ€, added Patskevich.

He noted that the transportation of oil was made possible thanks to an agreement on the use of Odessa-Brody pipeline, which was signed with Ukraine: â€œAll this is realized by the political will of the heads of both countriesâ€.