Ukraine open for Azerbaijani investors

By Azernews

By Nigar Abbasova

Ukraine’s Zhitomir region is keen to involve Azerbaijani investors in the implementation of different investment projects.

Governor of the Region Igor Gundich said that over 90 investment projects have already been developed in the region, adding that the projects cover different spheres of economy, which may interest Azerbaijani investors. The governor mentioned that more than 10 Azerbaijani entrepreneurs are currently working in the region.

Gundich made the remarks while addressing a meeting with Azerbaijani Ambassador to Ukraine Azer Khudiyev.

The sides also discussed perspectives of cooperation between Azerbaijan and Zhitomir region, which is deemed to be one of the most economically-developed regions in Ukraine.  

The envoy, in turn, gave thorough information about the economic development of Azerbaijan and expressed his readiness to assist businessmen of the two countries in the development of business ties.

Along with being one of the main partners of Ukraine in the region, Azerbaijan also ranks among major foreign investors of the country.

Investments of Azerbaijan in Ukraine totaled $189.6 million as of December 31, 2015. The State Oil Company of Azerbaijan (SOCAR) operates more than 60 fuel stations across the country. 

The trade turnover between Azerbaijan and Ukraine made up $234.7 million in the first nine months of 2016, with some $201.8 million of the sum falling to a share of imports from Ukraine, according to Azerbaijan’s State Customs Committee.

Azerbaijan’s imports from Ukraine include tobacco, iron and steel, machinery, cocoa, pharmaceuticals.