Business news

MINSK, 10 March (BelTA) – Belarus will use supplies from Russia to satisfy the domestic demand for oil in 2015, BelTA learned from Deputy Prime Minister of Belarus Vladimir Semashko after the session of the Belarusian-Azerbaijani intergovernmental commission on 10 March.

“As for hydrocarbons, at present we fully satisfy our demand with supplies from the Russian Federation,” said the Deputy Prime Minister. This year’s fuel and energy balance has been signed, with Belarus expecting to get 23 million tonnes of oil. According to Vladimir Semashko, the volume will be sufficient to keep Belarusian oil refineries operating at 100% of their capacity. “We will have only Russian oil and it is profitable due to the minimal transportation costs and certain preferences,” he stated.

The Deputy Prime Minister specified that in 2010-2011 Azerbaijan helped Belarus with oil deliveries, including direct ones.

Asked about the possibility of getting more oil products from Azerbaijan to Belarus, Vladimir Semashko said: “We will see depending on the development of the national economies of the two countries. We may add 5% every year”.

At the end of the 10 March session the sides signed a protocol, which, in particular, stipulates cooperation in petrochemical industry. “We would like competent representatives of the business community to visit Belarus and study the situation with regard to the possible participation in investment in the oil-processing and petrochemical industries,” concluded Vladimir Semashko.

According to the Belarus government, in 2014 Belarus-Azerbaijan trade totaled $330.8 million. Belarus’ primary exports were woodworking products, mechanical engineering products, food, medications, ferrous metal products, glassware. Azerbaijan’s basic exports were oil products, juices, agricultural products, aluminum products. At present measures are being taken to carry out the program for long-term social and economic cooperation between the countries for the period prior to 2015. Projects in the sphere of logistics, public catering, retail are in progress in Belarus, with the total volume of Azerbaijani investments exceeding $20 million. Regular air service between Minsk and Baku has been established.