Belarus, Azerbaijan to cooperate in petrochemical sector

Belarus and Azerbaijan have serious intentions for cooperation in petrochemical industry, Ambassador Extraordinary and Plenipotentiary of Azerbaijan to Belarus Ali Naghiyev told media at a press conference held on May 26 on the occasion of the national holiday — the Republic Day.

"The presidents of Belarus and Azerbaijan have signed relevant documents and the seriousness of the parties cannot be doubted. The heads of state have expressed their will," stressed the diplomat.

The Ambassador reminded, the signed agreement encompass a wide area of bilateral cooperation from power engineering to the services industry. A document on Belarus’ participation in projects for oil extraction and transportation via Belarus has been signed at the presidential level. Efforts are being exercised. Though oil supplies to Belarus are a very complicated process, it is real. "The Presidents signed corresponding agreements and we don’t have the right to doubt it," stressed Ali Naghiyev.

The diplomat also remarked, Belarus agreed to let Azerbaijan investors to participate in privatization processes in Belarus.

Ali Naghiyev remarked, oil extraction in Azerbaijan grows every year. Owing a lot to the fact, the country has been demonstrating one of the world’s fastest GDP growths for three years in a row. Oil extraction revenues are used to develop other industries. They are poured into civil engineering, agriculture, infrastructure development.

Belarus and Azerbaijan successfully cooperate in setting up joint manufacturing facilities. In particular, tractors Belarus have been assembled at the premises of Ganja Automobile Plant since 2007. Last year around 430 tractors were assembled and sold to customers.

There are plans to start assembling MAZ buses in Azerbaijan in the near future.

The Ambassador believes there are good prospects for cooperation in the banking industry. "A corresponding document has been signed. It means there is interest in the cooperation," he added.

According to Belarusian statistics in 2007 Azerbaijan’s ranked 6th in Belarus’ foreign trade with the CIS states. In 2007 the bilateral trade swelled by 140% up on 2006 to make up $89.7 million. Belarus’ export to Azerbaijan grew by 150% to $86.4 million. The main exports are mechanical engineering products, woodworking products, industrial consumer goods, and foods.

/BELTA/