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AGRI feasibility study to be ready by mid-2014
The feasibility study for the Azerbaijan-Georgia-Romania Interconnector (AGRI) project concerning the transmission of liquefied gas from Azerbaijan to Romania, will be ready in the first half of this year, according to a press release of Romania\\\'s Economy Ministry (ME).
Economy Minister Constantin Nita met on Monday with Azeri Energy Minister Natiq Aliyev, Vitaliy Baylarbayov - member of the AGRI project board, Rovnag Abdullayev, the CEO of Azerbaijan\\\'s state-owned oil and natural gas corporation SOCAR, SOCAR deputy CEO Elshad Nassirov and SOCAR Romania CEO Hamza Karimov.
\\\'During the meeting, emphasis was put on the opportunities of economic cooperation with a view to increasing trade exchanges between the two countries, the AGRI project, opportunities of investments in the Romanian market. In addition, the parties tackled the issue regarding the cooperation between the Azeri and Romanian companies, with a view to drawing up joint projects at international level,\\\' the release reads.
The representatives of the Romanian ministry said that the visit of the Azeri delegation confirms the interest in enforcing the measures of economic cooperation discussed during the visit of Prime Minister Victor Ponta to Azerbaijan in June 2013.
\\\'I have discussed with Minister Natiq Aliyev about capitalizing on the potential as regards trade exchanges between Romania and Azerbaijan. They stood at about 95 million dollars at the end of 2013, a level that does not represent the real potential of the two economies. In this regard, the contacts between the companies and firms of the two states have to be sped up, via the Azerbaijan-Romania Bilateral Trade Chamber inaugurated in March 2013,\\\' Constantin Nita said.
As for energy cooperation, the two sides reiterated their interest in developing the AGRI project. The feasibility study is to be completed in the first half of this year, with the parties involved in the project to take a decision based on the data included in the study, the release says.
\\\'During the meeting, I have discussed with the Azeri representatives about the opportunities of cooperation between the Romanian and Azeri companies on projects developed locally and worldwide. The expertise and experience of the Romanian experts can contribute to the success of any project in the energy sector, electricity, oil and gas, industry. At the same time, I conveyed to the Azeri side the opportunity to cooperate in the petrochemical sector,\\\' Nita also said.
According to data released by the Economy Ministry, the total volume of Romanian-Azeri trade exchanges amounted to nearly 95 million dollars on Dec. 31, 2013. The Romanian exports registered a very important increase in the aforementioned period (+92.91 pct), standing at 43.79 million dollars.
Oil imports from Azerbaijan account for about 92 percent of the all-in volume of Romania\\\'s imports from this country. The main products Romania exports to Azerbaijan are: cars, devices and equipment, pharmaceutical products, wood and wooden items, food products.