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Azerbaijani Industry and Energy Minister, to come to Romania; Oltchim privatisation, among discussion topics

A delegation headed by Azerbaijani Industry and Energy Minister Natiq Alyev, accompanied by the SOCAR President (the oil and natural gas company owned by the Azerbaijani state) is going to pay a visit to Romania this autumn for talks on the topic of the privatisation of Oltchim plant, as well as for the assessment of other investment opportunities in Romania, shows a release the Economy Ministry sent on Wednesday.

The Economy Minister Andrei Dominic Gerea on Wednesday talked with Extraordinary and Plenipotentiary Ambassador of the Republic of Azerbaijan to Romania Farid Abdinayov about the stage of the economic - commercial collaboration between the two states, appreciating the existence of a high potential for developing the bilateral relations.

'The Romanian dignitary gave guarantees that the Azerbaijani partners will receive the updated information concerning the privatisation process of the plant [Oltchim] and requested that the delegation arrival should be hurried, if possible,' the cited release points out.

During the meeting, the two sides voiced their availability to make the bilateral economic and commercial relations more dynamic, with a focus on the possibilities of drawing investments. Thus, they underscored the need for the businessmen of both countries to supply as much information as possible on concrete areas, for future collaborations and investments.

'It is very important that, through consultations both on a governmental level and on a business environment level in the two countries, we should find those economic cooperation projects the materialising of which should contribute to the substantial growth of the bilateral commercial exchanges and of the mutual investments,' the Romanian Minister pointed out.

According to the data of the Economy Ministry, on December 31, 2012, the Romanian - Azerbaijani trade relations amounted to 112.2 million dollars, out of which the Romanian export stood at 22.6 million dollars and the import, at 89.6 million dollars.

On August 31, 2013, the total mutual deliveries stood at 75.2 million dollars, registering a 12.2 percent growth from the similar period of 2012, owed exclusively to the increase in Romanian exports by 86.7 percent, up to 26.2 million dollars, while the import declined 7.5 percent, to 49 million dollars.

The export growth backed up by the import decline leaded to an improvement in the trade balance accounting for 16 million dollars. The main positions in the Romanian export are taken by industrial machinery, devices and equipment, pharmaceutical, wood and wooden products.