Russia and Azerbaijan diversifying economic cooperation

Azerbaijan and Russia discussed issues of diversification of economic partnership and development of inter-regional relations between the countries, according to the Azerbaijani Ministry of Economy.

The discussions were held during the meeting of Azerbaijan’s Economy Minister Mikayil Jabbarov with a delegation headed by Russian President’s Advisor Ruslan Edelgeriyev.

Besides, during the meeting, favorable business and investment opportunities in Azerbaijan were noted.

Jabbarov emphasized the positive dynamics in the development of relations with Russia, noted the importance of intensifying partnerships between business circles in realizing the economic potential, strengthening trade and investment ties.

It was noted that the favorable business and investment environment in Azerbaijan, and the wide potential of its liberated territories open up new prospects for the development of regional cooperation, including partnership with Russia.

Russian investors can also take advantage of the transport and logistics facilities of Azerbaijan's Alat Free Economic Zone, located at the crossroads of international corridors.

Jabbarov, stressing the special role of increasing the efficiency of transport links to increase bilateral trade, drew attention to the importance of using the resources of the International North-South Transport Corridor.

Edelgeriyev, expressing satisfaction with his visit to the country, stressed that Russia attaches particular importance to partnership with Azerbaijan, noted the role of increasing the activity of the private sector in effective mutually beneficial development, and shared his vision of realizing the economic potential.

The parties considered the possibilities of implementing social and economic projects.

The meeting was attended by representatives of Russian Foreign Ministry, Embassy and Trade Representation in Azerbaijan and the Council of the Regional Branch of the All-Russian Public State Movement of Children and Youth "Movement of the First" in the Chechen Republic of Russia.

The parties also discussed the issues of diversifying economic cooperation between Azerbaijan and Russia, the work necessary to maintain dynamics in the volume of mutual trade, the development of inter-regional relations, as well as ties in the field of tourism and other industries.