Azerbaijan invests $11.3 mln in Belarusian economy

Fri 13 Apr 2018 07:05 GMT | 11:05 Local Time

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During the visit of the Belarusian government delegation headed by Deputy Prime Minister Vladimir Semashko to Baku in early April 2018, the Belarusian representatives visited the Ganja Automobile Plant, where the 10,000th MTZ tractor rolled off the assembly line.

The sides agreed work out bilateral projects to increase trade turnover between the countries, deepen economic cooperation. Azerbaijan aims to develop the agricultural sector and restore industrial enterprises, according to AzerTag. The Belarusian experience and opportunities will come in handy here. The petrochemical industry, pharmaceuticals, transport, and food supplies are also viewed as promising areas for cooperation. Last year, Azerbaijan invested more than $11 million in the Belarusian economy. The two states are currently implementing three joint projects. About 60 enterprises with the Azerbaijani capital operate in Belarus.

Along with this, a plant to assemble Belarusian-Azerbaijani tractors will be set up in Turkey, Fyodor Domotenko, Director General of the Minsk Tractor Works (MTZ trademark), said in an interview with the STV TV channel, according to BelTA. “We are mulling over the construction of the plant in Turkey. In the long run, its capacity will make up 5,000 vehicles. The projected capacity, envisaged at the first stage, is up to 2,500. This is a joint Belarusian-Azerbaijani tractor that will be assembled in Turkey,” said Fyodor Domotenko. Azerbaijan takes note of the contribution of the Belarusian engineering industry to the development of the economy, including new jobs and joint products providing access to third markets. The Ganja Automobile Plant, apart from tractors, assembles MAZ vehicles and plans to launch the production of Gomselmash equipment. Agreements on new supplies have already been reached. In 2017, the trade between Belarus and Azerbaijan exceeded $160 million. The main trading positions included tractors and truck tractors, food products, woodworking goods, medicines, and oil products.

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