Azernews.Az

By Ofeliya Afandiyeva

Ukraine is among the top ten trade and import partners of Azerbaijan.

The Foreign Ministers of Azerbaijan and Ukraine have expressed satisfaction with the bilateral cooperation in economic, trade, transport and other fields between the two countries during the meeting held in Stockholm on the sidelines of the seminar “A New Political vision for Eastern Partnership” on the 10th Anniversary of the Eastern Partnership on November 5, the Azerbaijani Foreign Ministry has reported.

The sides exchanged views around the state of bilateral relations and discussed the present level of cooperation. They expressed confidence in the future cooperation between the two countries.

The implementation of the strategic projects in the region was also in the focus of attention.

Additionally, the sides discussed prospects of cooperation between Azerbaijan and Ukraine within the framework of various international organizations and agreed to continue joint efforts to this end.

In the end, Minister Elmar Mammadyarov invited his counterpart to pay a visit to Azerbaijan.

It’s worth mentioning that in 2001, the two countries founded the Organization for Democracy and Economic Development (GUAM), along with Georgia and Moldova.

Ukraine is one of the main trade partners of the country and ranks 6th in Azerbaijan's foreign trade. There is a steady growth in trade between the two countries. In 2018, its volume was $ 853 million. So far, Azerbaijan has invested $362 million in Ukraine - $286 million in oil, $76 million in the non-oil sector. In turn, Ukraine invested $25 million in the non-oil sector of Azerbaijan in industry, construction, trade, agriculture, transport, services, etc. There are about 150 Ukrainian companies operating in Azerbaijan.

Vast majority of Azerbaijan's energy exports to Ukraine consists of oil and oil products. The issue of the transportation of Azerbaijani gas to Ukraine was also resolved in 2011. Azerbaijan, as a producer of energy resources, and Ukraine as a consumer and transit country, both play an important role in ensuring energy security of several countries.

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