Belarusian ambassador: EAEU seeks to strengthen co-op with Azerbaijan

The Eurasian Economic Union (EAEU) is seeking to strengthen cooperation with Azerbaijan, Belarusian Ambassador Dmitry Pinevich said in Baku during a roundtable discussion titled "Benefits for Business from Participation in Eurasian Economic Integration."

"The EAEU seeks to strengthen cooperation with friendly countries such as Azerbaijan and organizations such as the CIS, the Organization of Turkic States, and other regional and subregional organizations," he said.

Russian Ambassador to Baku Mikhail Evdokimov emphasized that Azerbaijan's cooperation with the EAEU could contribute to the growth of foreign investment in the country. "We (the EAEU) have a very positive dialogue with Azerbaijan," the ambassador emphasized.

The diplomat added that Azerbaijan's trade turnover with the Union countries is growing.

Valentina Pavlovna, Deputy Head of the Department of Promising Integration Projects at the Department of Eurasian Integration of the Russian Ministry of Foreign Affairs, noted that Azerbaijan is a proven partner of the EAEU. "Strengthening cooperation and increasing the supply of goods from Azerbaijan has enormous potential," she said, noting that approximately 1,800 Russian companies are represented in Azerbaijan.

She also expressed hope that this cooperation will continue to expand. "Azerbaijan is an important point of attraction for the Eurasian Economic Union, due to the country's strategic geographic location. The EAEU, for its part, can facilitate the development of Azerbaijan's transport infrastructure," she said.

The event emphasized that closer cooperation between Azerbaijan and the EAEU could lead to a $2.3 billion increase in nominal GDP, a 91% increase in industrial exports from Azerbaijan to union countries, and a 67% increase in services exports. Furthermore, EAEU foreign direct investment in Azerbaijan's economy could increase by 18%.