OREANDA-NEWS. October 11, 2010. Cooperation between Ukraine and the Republic of Azerbaijan started to develop dynamically again. This was stated by the Senior Vice Prime Minister of Ukraine Andriy Klyuyev up to the 8th Session of the Joint Ukrainian-Azerbaijani intergovernmental commission for economic cooperation.

Andriy Klyuyev said that during the meeting the sides discussed almost all areas of bilateral economic cooperation and agreed on its growth in fuel and energy complex, heavy and power engineering, agriculture and culture, science, health care. "There are no areas where we could not work effectively" - he said.

According to the Senior Vice Prime Minister, Ukraine and Azerbaijan have great prospects for cooperation, what is confirmed by "the fact that in 2010 the country's turnover has increased by 2.6 times and actually went to the pre-crisis level." In the seven months of this year the trade turnover between the two countries amounted to 881.6 million USD. This growth is provided through the growth of deliveries to Ukraine of Azeri oil. The Senior Vice Prime Minister of Ukraine said that the parties agreed to increase cooperation in this field.

In turn, the Senior Vice Prime Minister of Azerbaijan Yagub Eyubov said Ukraine is one of the key strategic partners for Azerbaijan. He noted that the 8th meeting was very productive - the parties agreed to develop different areas of cooperation, including military-technical and space ones.

Yagub Eyubov said that Ukraine and Azerbaijan in the near future would develop a cooperation program between the two countries in all areas for 2011-2015.

According to the Senior Vice Prime Minister of Ukraine, he was very pleased that the intergovernmental commission resumed its operation. The Senior Vice Prime Minister of Azerbaijan Yagub Eyubov also said: "The last time the commission met in 2006 when I was the co-chairmen, on the Ukrainian side there was Andriy Klyuyev. Then we worked together effectively. Unfortunately, for years our efforts to organize the next meeting of the commission were in vain."

During the Commission meeting the sides noted that, despite the positive trend of growth of trade between two countries, Ukraine and Azerbaijan have enormous potential for further mutually beneficial increase. According to the Ukrainian side in the coming years, the annual trade turnover is to grow to 2 billion USD.

The main positions that help to increase exports from Azerbaijan are also products of energy, chemical and petrochemical products, some agricultural groups. The volume of supplies to Ukraine could be increased through agricultural products and steel complexes, food industry, all branches of engineering.

The participants agreed not only to expand the list of goods and services in their trade, but also to establish joint ventures in energy, space exploration, chemical, food processing, engineering, agriculture areas.

The parties agreed to prepare and hold, during a visit to Ukraine of the President of Azerbaijan Ilham Aliyev, scheduled for late October, a meeting of representatives of business circles of two countries, which would invite the leaders and owners of the largest private and public companies of both countries.