Business news

BAKU, 28 December (BelTA – Trend) - The Belarus-Azerbaijan trade is expected to reach $150 million in 2017, Ambassador of Belarus to Azerbaijan Gennady Akhramovich said at a press conference in Baku on 28 December.

In January-October this year, the trade turnover between the two countries amounted to $119 million, which was up 15% as against the same period a year prior, he said. In 2016, the trade between Azerbaijan and Belarus amounted to $124.5 million.

“The past year was very positive in terms of the economic relations between the two countries. In January-October, we saw a 15% increase in the bilateral trade which totaled $119 million. At the end of the year we expect it to reach $150 million. This is a good result,” Ambassador Gennady Akhramovich noted.

The ambassador noted that in 2018 the trade turnover between Azerbaijan and Belarus will grow significantly as a result of implementation of a number of economic projects.

“Trade between the two countries is multifaceted,” he said. “For example, Belarus supplies products of machine engineering, food, woodworking and pharmaceutical industries to Azerbaijan. In turn, Belarus imports products of petrochemical industry, aluminum for engineering, food products and alcoholic beverages from Azerbaijan. Azerbaijan’s first foreign trading house was opened in Belarus,” the Belarusian ambassador noted.