Azerbaijan-Belarus business forum starts in Baku - UPDATED

15:29

Niyazi Safarov, Azerbaijan’s Deputy Minister of Economic Development, briefed the participants about the country’s economy, economic growth rate and development of the non-oil sector in the regions.

“Reduction of poverty underlies the economic policies of both Azerbaijan and Belarus,” he added.

He noted that more than $45 billion have been invested in Azerbaijan since 1995, of which 70% is foreign capital.

“$4 billion were invested in the first half of 2007 alone. Trade turnover between Azerbaijan and Belarus was a bit above $20 million in 2006 but tripled to $60 million in January-July, 2007. The both parties have good potential to boost trade,” he underlined.

Nadejda Kotkovets, Belarus’ Deputy Minister of Agriculture and Food, added that economic and commercial relations between Azerbaijan and Belarus is the stage of evolution and is not at the desired level.

“Even we shouldn’t follow the growth rate and we should go ahead very rapidly,” she added.

The business forum brought together 32 companies from Azerbaijan and 15 from Belarus.

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12:04

A delegation from Belarus, led by the first Deputy Minister of Agriculture and Food of this country Nadejda Kotkovets has arrived in Baku for participation in the event, Thursday.

The business forum has been arranged by the Azerbaijan Ministry of Economic Development and Azerbaijan Export and Investments Encouragement Fund (AZPROMO).

The opening ceremony was attended by the deputy Minister of Economic Development of Azerbaijan Niyazi Safarov and AZPROMO president Emil Medjidov, as well as representatives of over 20 big companies of the country.

It should be noted that Nikolai Patskevch, Belarus ambassador to Azerbaijan, previously reported that the Belarus delegation included assistants of general directors and chiefs of departments of 15 big companies of the country.

"Belarus intends to discuss prospects of cooperation in agricultural sphere in Baku. In particular, we want to buy early fruits and vegetables from you. Depending on the results of the talks, the creation of a joint venture on production and processing of agricultural products in Azerbaijan is not ruled out", the ambassador noted.

/Day.Az/