16:52 - 29.03.2022

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March 29, Fineko/abc.az. Russia and Ukraine, which are currently in a state of political and military confrontation with each other, are countries that play a special role in Azerbaijan's foreign trade relations.

How did the war affect Azerbaijan's non-oil exports to these countries?

ABC.AZ reports that department head of the Center for Analysis of Economic Reforms & Communications Nijat Hajizade stated that both countries have a significant share in the trade of the non-oil sector of Azerbaijan.

"Russia and Ukraine are the main foreign trade partners of Azerbaijan. Against the background of geopolitical events, there is a high probability of decrease in Azerbaijan's trade operations with these countries. Also, the advantage of both countries in relation to other countries is directly related to the factor of free trade. The main advantage in trade with the Russian Federation accounts for fruit and vegetable products, and in trade with Ukraine, the main driving force is oil and petroleum products. Thus, fruits and vegetables and a number of agricultural products cover about 60% of exports to Russia. 82.5% of exports to Ukraine are oil and petroleum products. Although the export of products to both countries will continue, decrease in purchasing power is expected," Hajizade said.