New agreements with Ukraine: what will this give to Azerbaijan?

what will this give to Azerbaijan?

BAKU, Azerbaijan, Jan. 15

By Leman Zeynalova – Trend:

President of Azerbaijan Ilham Aliyev paid a working visit to Ukraine on Jan. 14, during which the most important documents were signed, opening a new page in the development of bilateral relations in various sectors of the economy.

So, in general, the parties have signed five documents and a Joint Declaration of the Presidents.

These documents include an agreement on cooperation in the field of food safety; memorandum of understanding on emergency cooperation in bilateral trade; memorandum of agreement on cooperation in the agricultural sector; a memorandum of understanding between the State Oil Company of the Azerbaijan Republic (SOCAR) and the National Joint Stock Company “Naftogaz of Ukraine” on cooperation in the energy sector; a memorandum of understanding on cooperation in the field of land tenure, State land management, and State land cadastre.

The well-known Ukrainian expert, economist Oleksandr Okhrimenko told Trend about benefits the Azerbaijani economy will obtain from these agreements.

According to him, the agreement on cooperation in the field of food safety will eliminate bureaucratic barriers for the export and import of food between the two countries. At the same time, the quality of these products will be preserved, and the corruption at the Customs office will be reduced.

“The memorandum of understanding on urgent cooperation in bilateral trade will help to quickly and effectively handle trade disputes between Ukrainian and Azerbaijani businessmen, which is also very important considering that the trade turnover between our countries is growing. The memorandum on cooperation in the agricultural sector is an essential document, as Ukraine today is interested in attracting investments in the agricultural sector, and Azerbaijan could become such an investor that would help Ukraine develop agriculture and deal with its food security problems. After the launch of the land market in Ukraine, great opportunities open up for investors, and here we do need state support and a guarantee for the development of these relations,” the Ukrainian economist believes.

As for the memorandum of understanding on cooperation in the field of energy, Okhrimenko stressed that Azerbaijan is a country rich in oil, and Ukraine has its own oil refineries, so it is very profitable for Ukraine to process oil from Azerbaijan.

“This allows part of the oil products to be sold in Ukraine, and part – in the EU. It is necessary to increase cooperation between Ukraine and Azerbaijan in the oil business since this is promising and mutually beneficial,” he concluded.

The above agreements actually mark a new milestone in the development of cooperation between Azerbaijan and Ukraine in various directions. The implementation of the agreements reached during the visit of President Ilham Aliyev to Ukraine will pave the way for even more rapid development of the two countries’ economies and will yield great returns.