Shahin Mustafayev: Azerbaijan’s participation in Saint-Petersburg economic forum is a necessary step for extension of bilateral cooperation

Fri 07 Jun 2019 15:08 GMT | 19:08 Local Time

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Azerbaijan’s both political and economic links with Russia develop successfully. Russia is main trade partner of Azerbaijan on non-oil and gas sector, Ministry of Economy Shahin Mustafayev said at the 23rd International Economic Forum in Saint Petersburg.

"We achieved successful results in the economic field in 2018. Our trade turnover with Russia rose by 16% settling $2.5 billion. Performances of 2019 are also successful. According to the results of the first quarter of 2019, the trade turnover grew by 23%," he said.

Mustafayev said that Azerbaijan successfully cooperates with Russia in investment fields too: "Azermash and Russia’s Gorky Automobile Plant signed a cooperation agreement. Foundation of a plant to assemble GAZ cars was laid in Hajigabul Industrial District. Recently, we completed the construction of the first stage of the pharmaceutical plant in Pirallahi Industrial Park.

"We successfully cooperate in the financial sector too. Russia’s Gazprombank financed SOCAR Polymer’s construction in Sumgayit. This is a very successful project. Gazprombank also finances the reconstruction of Azerkimya PU and other projects. We have some plans. Today, AZPROMO and Roscongress signed a cooperation agreement. Roscongress is one of the organizers of the event.

"Currently, Azerbaijan is cooperating with 80 regions of Russia and heads of states support this format. At the same time, the meeting will be held tomorrow with the participation of Azerbaijani delegation and businessmen. Businessmen are planned to extend links. I’ll meet with the members of the Russian government and discuss cooperation issues between our countries. Azerbaijan’s participation in this forum is very significant and we are sure that this is an important step for extension of economic cooperation," the minister said.

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