Azerbaijan, Belarus strengthen economic ties with promising new initiatives

Azerbaijan and Belarus are intensifying efforts to enhance trade and economic partnership, with both nations reaffirming their commitment to expanding bilateral ties.

During the Azerbaijan-Belarus Business Forum, Yusif Abdullayev, Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO), outlined key developments and initiatives under the 2024-2025 cooperation roadmap, Caliber.Az reports.

Abdullayev highlighted the renewed focus on the roadmap, which outlines the framework for further developing cooperation between Azerbaijan and Belarus. He noted that the ongoing implementation of the measures outlined in the roadmap has already yielded tangible results, particularly in boosting trade, economic, and investment interactions.

"As of the end of the first quarter of 2025, the mutual trade turnover between Azerbaijan and Belarus has exceeded $101 million, with exports to Belarus seeing a remarkable 82 per cent increase, reaching $17 million," Abdullayev shared.

He emphasized that this surge in exports was driven entirely by products from Azerbaijan’s non-hydrocarbon sector, underlining the diversification of trade relations. Additionally, he mentioned the active role of the Azerbaijan Trade House in Minsk, which is promoting Azerbaijani products, especially wines.

Abdullayev further noted the strong history and promising prospects of bilateral investment ties between the two countries. One of the most successful examples of industrial cooperation is the partnership between the Ganja Automobile Plant and Minsk Tractor Plant. Since 2007, the joint venture has produced more than 14,000 Belarusian tractors and over 3,000 trucks for various uses. The assembly line was recently expanded to include fire trucks.

In the lift equipment sector, Abdullayev highlighted the progress of a new collaboration. "In last October, an agreement was signed with JSC Mogilevliftmash for the joint production and sale of lifts in Azerbaijan," he explained. The first stage of this initiative aims to assemble 200 lifts this year.

Agriculture also remains a central pillar of Azerbaijan-Belarus economic cooperation. Abdullayev pointed to the joint working group that is focused on increasing trade in agricultural products and attracting investment in the sector. He noted the potential for joint livestock farming agro-complexes in Azerbaijan’s highly fertile regions of Beylagan, Shaki, and Gobustan, with the intention of applying Belarusian expertise in building agro-towns.

Additionally, Abdullayev mentioned plans for the joint production of complex mineral fertilizers. A roadmap has already been signed, with product parameters and export potential agreed upon. He stated that the realization of this project will help meet domestic demand and expand into regional markets.

Abdullayev also highlighted the participation of Belarus companies in the reconstruction of Azerbaijan's liberated territories of Karabakh and East Zangazur.

"Large-scale reconstruction projects are underway in these areas, and Belarusian companies are contributing to the development of smart cities and villages. Proposals from Belarusian companies for supplying wooden houses and fuel pellets have been received, and a trial delivery of wooden frame-panel house sets was made to Aghdam district," he stated.

Furthermore, joint work is continuing on the design and construction of a residential agrarian settlement in Gizili Kangarli village of Aghdam district, with several stages of the project already completed.

By Vafa Guliyeva