Trade and economic relations

Trade relations between the Republic of Azerbaijan and the Hellenic Republic

(in million US dollar)

Year
Import
Export
Trade turnover
Balance
2004
4,5
20,2
24,8
15,7
2005
5
95,7
100,7
90,7
2006
5,4
182
187,4
176,6
2007
30,8
115,1
145,9
84,3
2008
6,6
290,9
297,5
284,3
2009
5,6
179,7
185,3
174,1
2010
12,1
255,1
267,2
243,0
2011
8.9
208.1
217.0
199.2

Source: The State Statistical Committee of the Republic of Azerbaijan

The products have been prevailed in trade are mentioned below:
Azerbaijan’s import from Greece

  • Oil and gas pipes, tubes, profiles;
  • Labels and etiquettes made of carton;
  • Medicines for retail sale.

Azerbaijan’s export to Greece

  • Crude oil;
  • Diesel;
  • Kerosine.

Economic cooperation between the Republic of Azerbaijan and the Hellenic Republic.

A joint commission was established between the governments of Azerbaijan and Greece to implement the “Agreement between the Government of the Republic of Azerbaijan and the Government of the Hellenic Republic on economic, industrial and technological cooperation” signed on July 26, 1994, based on the “V” article of the abovementioned agreement.

Upon Presidential decree number 72, dated November 27, 2008 Mr. Natig Aliyev Minister of Industry and Energy of the Republic of Azerbaijan was appointed a co chair of the abovementioned commission from Azerbaijan.
First session of the Joint Commission was held on April 10-11, 2003 in Baku and the second session was held on July 06, 2007 in Athens. Based on the Protocol of the last session a concrete cooperation agreements were reached between the two countries in the fields of energy, transport, communication and information technologies, tourism, agriculture, small and medium enterprises, entrepreneurship. At the same time directions of multilateral cooperation were set up. Thus, both parties have acknowledged the importance of cooperation in the BSEC. At the same time the Greek part supported the realization of ENP EU-Azerbaijan Action Plan and expressed its readiness for cooperation with Azerbaijan in this direction.

On March 16 – 18, 2008 a delegation led by the Greek Development Minister Mr.C. Folias visited Azerbaijan and held meetings at the Ministries of Foreign Affairs, Finance, Economic Development, Transport, Ecology and Natural Recourses of the Republic of Azerbaijan and SOCAR.

On September 8-9, 2008 the Greek delegation led by Mr. C. Folias participated in the “Azerbaijan – Turkmenistan Oil and Gas Potential: Energy, Economy, Ecology, Joint Strategy” conference held in Baku.

On February 17, 2009 Azerbaijan-Greece business forum on Business cooperation opportunities was held in Athens in the framework of Azerbaijani President H. E. Mr. Ilham Aliyev’s State visit to Greece. President of Azerbaijan, President and Prime Minister of Greece made speeches in the forum organized by AZPROMO and Athens Chamber of Commerce and Industry. Presentations on business opportunities and investment climate, also bilateral meetings between business representatives of both countries were held during the forum.

On May 12-13, 2009 a business delegation led by Deputy Minister of Foreign Affair Mr. Miltiadis Varvitsiotis made a visit to Baku. During the visit Mr. Varvitsiotis participated in the Azerbaijan-Greece Business Forum attended by 40 businessmen from Greece and 120 from Azerbaijan. Mr. Varvitsiotis delivered a speech at the Forum. During the Forum a Memorandum of Understanding was signed in the presence of the Deputy Foreign Minister Mr. Varvitsiotis and Azerbaijani officials between the Hellenic Federation of Enterprises (SEV) and AZPROMO.

 
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