Baku to host Azerbaijani-Russian business forum

By: Nazrin Gadimova

Azerbaijani-Russian business forum will be held in Baku as part of the visit of a Russian delegation on June 4.

The news was announced by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) on May 28.

“The event will be held within the visit of delegations of Russian Udmurtia and Kaluga Oblast,” the report says. “Azerbaijani entrepreneurs are invited to participate in this event.”

Earlier, Azerbaijan’s capital hosted business forums with participation of delegations representing the Russian Ulyanovsk Oblast, and representatives of Stavropol’s companies.

Russia is the main trade partner of Azerbaijan in the CIS. Over the past ten years, the volume of Azerbaijan’s investments in Russia’s economy amounted to around $1 billion, $200 million of which fell on 2013.

About 570 Russian companies are operating in the country, Azerbaijani Economy and Industry Ministry said, adding that over $628 million was invested in fixed capital.

Foreign trade turnover between Azerbaijan and Russia amounted to $2.58 billion in 2013, which is 10.47 percent more than 2012, the Azerbaijani State Customs Committee said. Azerbaijan’s exports to Russia amounted to $1.078 billion, while the import of goods from Russia totaled $1.505 billion during the reported period.


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