Uzbekistan: delegation of Korea Telecom visits FIEZ Navoi

A delegation of Korea Telecom led by Vice President Mr. Baek-hee Lee paid a visit to the free industrial zone Navoi.

During the meeting the current state and prospects of cooperation in investment spheres were discussed.

Korea Telecom is one of the leading companies in Korea introducing universal telephone and communication services. (UzDaily/Business World Magazine)

Azerbaijan: car plant groundbreaking ceremony held

A groundbreaking ceremony for construction of a joint Azerbaijani-Iranian car plant was held on August 6, in Azerbaijan’s Neftchala industrial quarter. The plant is a joint project of Azerbaijan’s AzEuroCar LLC and Iran’s giant automaker Iran Khodro. Azerbaijan’s Economy Minister Shahin Mustafayev and Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh participated in…

Belarus: BelOil redirecting export flows

Belarus Petroleum Company (BelOil) has redirected part of its export routes from Ukrainian ports to Lithuania’s Klaipeda, a source in the profile ministry said. The redirection is connected with more favorable logistic conditions. Belarus Petroleum Company (BelOil) was founded in May 2007. The main shareholder is Belorusneft (52% of shares), with Naftan and Mozyr refineries…

Belarus to continue WTO accession talks

Belarus will continue negotiating its accession to the World Trade Organization (WTO), representatives of the Foreign Economic Affairs Department of the Belarusian Ministry of Foreign Affairs reported. The negotiations will be aimed at shaping and agreeing upon balanced and favorable terms of Belarus’ membership in the World Trade Organization. Work to that effect will be…

Belarus: exports to go up by 2020

Belarus’ Council of Ministers approved of the national export promotion program for 2016-2020 and a roadmap for its implementation. The plan is outlined in Decree No. 604 of August 1, the press service of the Belarusian government reported. “The national program does not provide a detailed forecast for external trade in 2016-2020 but spells out…

Belarus: electrical power output down H1 2016

Electrical power output of Belarus’ power generating companies reduced by 2.8% YoY in January-June, to 16.6 billion kilowatt-hours (kWh), an official with the National Statistics Committee of Belarus (Belstat) reported.

Thermal energy output in H1 2016 went up by 0.9% YoY, to 32.8 million gigacalories. (Prime-TASS/Business World Magazine)

Belarus: gold and forex reserves up in July 2016

In July Belarus’ gold and foreign exchange reserves rose by $315.4 million if calculated in accordance with methods of the International Monetary Fund. According to preliminary data, the reserves totaled $4,629.6 million as of August 1, according to the Information and PR Department of the National Bank of the Republic of Belarus. In national terms…

Azerbaijan: export & investment opportunities with China expand

The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the China Council for the Promotion of International Trade (CCPIT) signed a memorandum of understanding. The memorandum was signed during the meeting of representatives of AZPROMO and CCPIT in Baku. The memorandum stipulates expanding joint export and investment opportunities between Azerbaijan and China, as well as…