Business news

MINSK, 30 November (BelTA) – It is a good idea to set up joint facilities for the processing of Azerbaijani raw materials and semi-finished products in Belarus and sell them on the markets of third countries, including the European Union, Belarus President Alexander Lukashenko told reporters after the talks with Azerbaijan President Ilham Aliyev on 28 November, BelTA informs.

According to the Belarusian head of state, this project is promising because of the geographic position of Belarus and its membership in the Eurasian Economic Union.

The governments of Belarus and Azerbaijan will be instructed to elaborate this and other projects.

Belarus and Azerbaijan are also interested in raising the capacity of joint ventures and expanding the range of equipment assembled in Azerbaijan, setting up new cooperation facilities together with Azerbaijani companies using locally made parts and components.

Alexander Lukashenko mentioned the positive dynamics of bilateral trade. In 2014 the trade turnover reached $330 million. “We can say that the volume of mutual trade has been retained this year. However, the figure proves that there is an untapped potential in our interaction because our countries have wide opportunities,” the Belarusian head of state said.

The presidents discussed the prospects of industrial cooperation, the implementation of large infrastructure projects, cooperation in investment and other areas.