Azerbaijan interested in further boosting trade, investments with Russia – minister

Thu 27 Sep 2018 02:53 GMT | 06:53 Local Time

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Azerbaijan is interested in further increasing trade and investments with Russia, Azerbaijan’s Economy Minister Shahin Mustafayev said, Trend reports. 

He made the remarks Sept. 27 at an expanded meeting of the Azerbaijani-Russian and Russian-Azerbaijani business councils as part of the 9th Azerbaijan-Russia interregional forum.

The minister noted that the cooperation between Azerbaijan and Russia is based on mutual respect and good-neighborliness at the level of strategic partnership.

He said that Azerbaijan and Russia are experiencing positive dynamics of the development of bilateral trade.

Russia is one of the main trade partners of Azerbaijan and comprehensive measures have been recently taken to diversify the trade turnover, Mustafayev said.

So far, Azerbaijan has invested over $1 billion in the Russian economy, while Russia has invested over $4 billion in the Azerbaijani economy, he added.

Presently, 760 companies with Russian capital operate in Azerbaijan, he said.

The 9th Azerbaijan-Russia interregional forum started its work in Baku Sept. 27.

The event is aimed at developing trade, economic and humanitarian ties between the regions of the two countries and will become a platform for joint work of Russia and Azerbaijan, including the relevant ministers, extraordinary and plenipotentiary ambassadors of both countries, the business community and experts.

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