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Фото: Офіс Президента України / www.president.gov.ua
The growth in trade turnover between Ukraine and Azerbaijan continues its steady increase following a decline in 2022, caused by the full-scale invasion of Ukraine by the Russian Federation. Furthermore, expanded cooperation also opens up markets in Central Asia and transit corridors for Ukraine, as reported by the Extraordinary and Plenipotentiary Ambassador of Ukraine to Azerbaijan, Yuriy Husiev.
“Over the past two years, we have seen stable growth in trade turnover between our nations, which experienced a sharp drop in 2022 due to logistical challenges associated with Russia’s full-scale invasion of Ukraine. However, in the current year, during its first five months, we have witnessed a trade turnover increase of more than 10%. The momentum is sustained, and we foresee significant prospects for expanding mutually beneficial trade between our countries. Specifically, the export of Ukrainian products to Azerbaijan is on the rise,” stated Husiev in an exclusive interview with Interfax-Ukraine agency.
According to him, the structure of Ukrainian exports to Azerbaijan primarily consists of agricultural products. In return, Ukraine imports fertilizers, oil and petroleum products from Azerbaijan, as well as various energy equipment that aids in restoring Ukraine’s energy infrastructure damaged by Russian aggression.
“Undoubtedly, the potential for bilateral trade is substantial, and we fully support ideas and projects proposed by various business associations. In particular, over the last two years, we have organized numerous forums and events in collaboration with the Ukrainian Chamber of Commerce and Industry, the Entrepreneurship and Export Promotion Office, the Ukrainian Union of Industrialists and Entrepreneurs, CEO Club Ukraine, and other business associations and organizations interested in enhancing trade, economic, and investment cooperation between Ukraine and Azerbaijan,” the diplomat remarked.
The Ambassador emphasized the critical importance that, by broadening collaboration with Azerbaijan, Ukraine is developing transit transport corridors, thereby unlocking access to other markets in the South Caucasus and Central Asia for Ukrainian manufacturers.
“Simultaneously, Ukraine benefits from a share of export and transit flows that connect Asian manufacturers with European consumers. In general, the development of transport corridors and the restoration of ferry services between Ukraine and the South Caucasus are among our strategic cooperation directions. The expansion of the Middle Corridor is also an issue that links Ukraine with the South Caucasus and Central Asian regions. Such matters are of paramount importance, and we are continuously working on them,” stated Husiev.
He reported that Ukrainian companies actively engaged in the Azerbaijani market, supplying agro-industrial products, “view Azerbaijan not just as a distinct market but also as a gateway to the markets of Central Asian countries.”
“Furthermore, last autumn, Ukraine’s Minister of Health, Viktor Liashko, undertook a visit to Azerbaijan, accompanied by representatives including those from pharmaceutical companies and healthcare institutions. As a result, we have promising developments and prospects for expanding cooperation between Ukraine and Azerbaijan in the pharmaceutical sector as well,” the Ambassador shared.
He noted that several ferry sailings between Ukraine and the South Caucasus have already occurred last year. “We are making significant efforts to ensure the development of transit transport corridors in the Black Sea-Caspian region, bringing benefits to the businesses of Ukraine, as well as to the countries of the South Caucasus and Central Asia,” added Husiev.