TODAY.AZ / Business

Ukraine to supply raw materials for industrial production in Azerbaijan

13 April 2018 [17:28] - TODAY.AZ
By Azernews

By Rashid Shirinov

Electrotyazhmash, the state enterprise of Ukraine, will supply the necessary raw materials for industrial production at Azerbaijan's Sumgayit Technologies Park (STP), the Park told Trend on April 13.

The contract on cooperation was signed by the STP CEO Emin Mammadov and the acting Director of Electrotyazhmash Dmitry Kostyuk.

“In accordance with the agreement, the parties will be engaged in the development of industrial sectors of the countries and will join efforts to create new technologies,” STP noted.

The contract also stipulates cooperation in the personnel capacity building and exchange of experience in this field. In addition, Electrotyazhmash will supply the necessary raw materials and spare parts for production at STP.

Sumgayit Technologies Park, opened in December 2009, includes a complex of plants engaged in new infrastructure projects. All production facilities are equipped with the best technological equipment manufactured in Europe.

STP produces electric power and mechanical engineering products, in particular, various types of cables, transformers, high voltage equipment, hydraulic turbines, water pumps, electric motors, pipes, etc.

As for, Azerbaijan-Ukraine cooperation, the countries enjoy sustainable prospects of bilateral relations in political, economic, energy, transport and humanitarian fields.

Azerbaijan is one of the main trade partners of Ukraine among the CIS countries. The trade turnover between two countries amounted to approximately $810 million in 2017, almost $460 million of which accounted for imports of Ukrainian products.

Main goods imported from Ukraine to Azerbaijan are products of metallurgy, machine building, agriculture and chemical industry. Meanwhile, goods exported from Azerbaijan to Ukraine are generally products of fuel energy industry, chemical industry and agro-industry.


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