Azerbaijan and Ukraine may increase their trade turnover to $2 billion in late 2011, Andrey Kluyev, Vice-Premier and Minister of Economy and Trade, said at the 9th session of the Azerbaijani-Ukrainian inter-governmental commission for economic cooperation in Baku on Friday, Trend reports.
Azerbaijani Vice-Premier Yagub Eyubov said that the two countries had a trade turnover of $1.4 billion in 2010. He noted that Ukraine is the sixth largest trade partner of Azerbaijan and second largest among CIS states.
Azerbaijan increased exports to Ukraine 4.8-fold, reaching $900 million. Ukrainian exports to Azerbaijan fell 9% to $500 million.
Azerbaijan mainly exports oil and oil products to Ukraine and imports products of metallurgy, engineering, aviation, radio and electronics. Income from trade operations in January-February 2011 increased 1.5-fold, compared with the same period in 2010, reaching $290 million.
36 Ukrainian companies belonging to Azerbaijan’s SOCAR Energy Ukraine Company operate in Ukraine with an investment share of $81.3 million.
The inter-governmental commission noted that the two states are successful in cooperating in the humanitarian sphere, information technologies, tourism and transport. A final protocol was signed between Yagub Eyubov and Andrey Kluyev.
