Oil and oil products dominating Azerbaijani-Czech trade turnover of $1 bln

The overall trade turnover between Azerbaijan and Czechia has topped $1 bln by results of 2007 yet oil and oil products, purchased to Czechia by oil products are dominating, said Azerbaijan's Economic Development Minister Heydar Babayev at the opening of the Azerbainan-Czechia business forum in Baku.

He said the sides should expand external trade turnover at the cost of the non-oil sector.

"$1 bln is statistical data of Czech side, as they calculate based on the origin certificates, which say that most part of Azerbaijani oil products are purchased by this country, as its oil refineries prefer to work with our oil, like it was in the past", said Babayev.

Yet the volume of trade relations beyond energy resources is not profitable for both countries. "We purchase equipment connected with road construction, metal wares, chemical production from Czechia, while Azerbaijan mainly exports agricultural products, with nuts dominating", said Babayev.

Therefore, the main task of this business-forum is to develop trade and economic relations in the non-oil sector. "Certainly, compared to other countries $ 1 bln is high, but we do not intend to content ourselves with it".

According to Czech Foreign Minister Karl Swartzenberg, Czechia is interested in the implementation of investment projects, creation of joint ventures, trucks and metal constructions.

"Czechia is interested in the political and trade and economic relations with all South Caucasus countries. There are many unsettled conflicts, influencing the stability of entire Europe. However, we consider that one of the ways to maintain stability in the region could be the involvement of these countries into the economic cooperation with European states", said Shwartzenbeng.

He noted such measures should promote implementation of the said ideas. "While young, I took horses on the horse-pond but they hand to drink water themselves. Thus, the representatives of the government help entrepreneurs contact, but further cooperation is already their business", concluded the Czech minister.

It should be noted that the forum was attended by representatives of 10 Czech and 30 Azerbaijani companies, representing aviation industry and tourism.

/Day.Az/