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Country News

17 October 2017

Belarus' investments in Azerbaijan at $1bn over past decade

The National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan (ASK) and the Belarusian Chamber of Commerce and Industry (BelCCI) signed a memorandum of cooperation during the Azerbaijan-Belarus business forum in Baku.

The document was signed by ASK President Mammad Musayev and BelCCI Chairman Vladimir Ulakhovich.

Vladimir Ulakhovich said that Belarusian investments in Azerbaijan have reached $1 billion over the past 10 years. “Currently, Belarus is home to 58 companies with Azerbaijani participation. Some 70 Belarusian companies operate in Azerbaijan,” he noted.

For his part, Mammad Musayev said that the trade between Azerbaijan and Belarus rose in recent years to reach $100 million. “There are many areas such as IT, agriculture, pharmaceutics and many others where the two countries can step up cooperation,” he added.

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