Azerbaijan, Russia deepen cooperation

By: Vusala Abbasova

Azerbaijan has already been cooperating with 78 entities of Russia and intends to develop these relations further, said Niyazi Safarov, Azerbaijani Deputy Minister of Economy and Industry.

Safarov made this statement during the Azerbaijani-Russian business meeting held on May 26, in Baku. The business meeting was attended by Chairman and Vice-Governor of the Astrakhan region, Konstantin Markelov as well as 40 businessmen operating in various sectors of the economy.

He also pointed out the importance of this business meeting which would provide for further expansion of economic relations between the countries as well as expansion opportunities among businessmen.

Safarov noted that the trade turnover between the two countries is growing every year, as Azerbaijan and Russia continue successful cooperation.

Currently, about 600 companies with Russian capital are operating in Azerbaijan. The trade turnover between Azerbaijan and Russia reached $2 billion in 2014, and grew by 11 percent in January-April compared to the same period of the previous year, Safarov added.

“Russia has invested more than $1.8 billion in Azerbaijan’s economy,” he said. “Azerbaijan has invested over $1 billion of investments in the Russian economy.”

In turn, Markelov underlined great potential for cooperation expansion between the two countries. In his opinion, efficient use of existing opportunities would be important in the development of bilateral relations.

A short video about investment opportunities in the Astrakhan region and the Lotos special economic zone was shown at the meeting.

SOURCE: Azer News