Trade turnover between Azerbaijan and Ukraine expected to reach $2 billion by the end of 2011

The trade turnover between Azerbaijan and Ukraine may reach $2 billion by the end of 2011, Ukrainian First Deputy Prime Minister and Minister of Economic Development and Trade Andrei Klyuyev said during the ninth meeting of the Azerbaijani-Ukrainian intergovernmental commission on economic cooperation in Baku today.

Azerbaijani First Deputy Prime Minister Yaqub Eyyubov said that last year the trade turnover between the countries doubled, reaching $1.4 billion.

Stressing that this is a very good indicator, Eyyubov said that Ukraine ranks sixth among the world countries and second in the CIS in the trade turnover with Azerbaijan. The volume of exports from Azerbaijan to Ukraine increased by 4.8 times and amounted to $900 million for the last period.

The total imports from Ukraine to Azerbaijan decreased by 9 percent and totaled $500 million.

Eyyubov said that oil and oil products are mainly exported from Azerbaijan. The products of the mining industry, metallurgy, machine building, aviation, radio and electrical engineering are mainly imported from Ukraine. The income received from trading operations in January-February 2011 increased by 1.5 times compared to the same period last year, when it reached $290 million. Today there are 36 Ukrainian companies in Azerbaijan.

Azerbaijani owned SOCAR energy Ukraine operates in Ukraine with the investment share of $81.3 million.

During the session of the intergovernmental commission it was emphasized that the countries are rapidly developing cooperation in the humanitarian sphere, and in information technologies, tourism and transport.

The final protocol was signed after the meeting. The document was signed by Yagub Eyyubov and Andrey Klyuyev.


/Trend/