Business

ASHGABAT, BAKU SPLIT ON DEBT PROBLEM

First vice-premier Abbas Abbasov has told journalists that a meeting of Azeri and Turkmen governmental delegations over the issue of Azerbaijan's debt is not on agenda any time soon.

Touching upon his recent trip to Ashgabat, the vice-premier said the Azerbaijan government had offered to first repay the state arrears of $18.7 million and then consider the amount claimed by Turkmenistan. But Ashgabat did not agree to that and demanded that the whole sum, which Turkmenistan maintains amounts to $60 million, be repaid in bulk.

"Of course, we could not accept that", Mr. Abbasov said.

Azerbaijan says the state debt to Turkmenistan constitutes $18.7 million, while $8 million more was formed in the accounts of private sector enterprises.

"Ashgabat is threatening us with international court and Azerbaijan is ready to go to court", A. Abbasov said.

He added that Turkmenistan deliberately disrupted the latest meeting and that Ashgabat's support for Iran is another means of influencing Azerbaijan.

BYELORUSSIAN PM UNHAPPY WITH ECONOMIC TIES

By Anar Jabrayilli Azernews Staff Wrter

A Byelorussian delegation led by Prime Minister Vladimir Yermoshin paid an official visit to Baku last week.

In an interview with journalists shortly after arrival, Mr. Yermoshin stated that economic relations between the two countries leave much to be desired and his country is interested in improving them.

According to him, Byelorussia has flourishing light, textile, mechanical engineering industries and a close cooperation with Azerbaijan could prove beneficial to both countries.

He said Byelorussian enterprises could purchase cotton, tobacco and semi-finished products from Azerbaijan. In regard to the under-developed trade relations, the Byelorussian Premier expressed a hope that the visit would help remedy the situation.

In a meeting with President Aliyev, V. Yermoshin updated the head of state on Byelorussia's economic situation and prospects on the horizon for stepping up the Azeri-Byelorussian ties.

The Premier said his country manufactures new truck models, agricultural and other machines Azerbaijan badly needs.

In conclusion, the parties signed 6 bilateral agreements.

The turnover between Azerbaijan and Byelorussia constitutes less than $5 to 6 million a year, a source from the Cabinet of Ministers told Azernews Thursday.

In the first half of 2001, the turnover made up $2,725,000, including $2,388,000 worth of Azeri imports from Byelorussia and $338,000 worth of Azeri exports. Azerbaijan exports nuts, chestnuts, cigarettes, chemicals, and kerosene, while imported are drugs, timber, refrigerators, etc.

GARADAGH CEMENT ALARMED WITH MARKET SITUATION

The Garadagh Cement open joint stock company has appealed to vice-premier Abid Sharifov, minister for economic development Farhad Aliyev, chairman of the State Customs Committee Kamaladdin Heydarov, and chairman of the Union of Free Consumers Ayyub Husseinov, in regard to the critical situation observed in Azerbaijan's cement market.

Cement allegedly manufactured in Ardebil, Iran, is being widely marketed in Azerbaijan under the brand name of "Portland-Cement". However, such cement has never been produced in Iran. The appeal further says that the uncontrolled entry of this illegal brand in Azerbaijan's cement market threatens with an economic crisis. Garadagh Cement leaders ask the government to take resolute measures to remedy the situation. Authors of the appeal warn that the use of this cement in construction may give rise to serious consequences.

CASPIAN EXPEDITION STARTS

The All-Caspian Expedition, being implemented as part of the Caspian Ecological Program (CEP), started on Thursday. The CEP coordination center said in a statement Friday that a group of specialists from littoral nations set off aboard "Caspian Researcher" to carry out surveys of the central and southern Caspian.

The key objective of the expedition is to evaluate the reserves of fish, sturgeons in particular.

The group is expected to apply, for the first time in the Caspian, a hydro-acoustic shooting method. The equipment necessary for the purpose has been provided by the Norwegian embassy in Baku.

The Azerbaijan sector and shallow water portions of the Caspian will be studied using other vessels.

5 AZERI EMBASSIES TO UNDERGO FINANCIAL INSPECTION

Before the end of 2001, financial inspections will be carried out in 5 Azeri embassies abroad, according to the Finance Minister Avaz Alakbarov. He declined to elaborate the countries, saying that all diplomatic missions would be checked on a regular basis.

Touching upon the payment of membership fees to international organizations, Mr. Alakbarov said Azerbaijan's debt was not on a critical level and was being gradually cleared. The minister added that Azerbaijan would soon receive a SAC credit.

PUBLIC HEALTH PRODUCTS TO BE EXHIBITED IN BAKU

The seventh international exhibition of public health products is due at Europe Hotel of Baku from September 19 till 21, a source from British Iteca Caspian Baku office told Azernews Thursday.

Companies from Russia, Ukraine, Turkey, Byelorussia, Germany, Israel, the UK, and other countries are expected to take part in the show being organized with support from the Azerbaijan Ministry of Health.

The exhibition is expected to display medical equipment, diagnostic, optic, pharmacological and hygienic products, dietary goods, food, dentistry equipment, etc.