Russia and Azerbaijan mull over promotion of mutual investments

Azerbaijan and Russia have discussed the issue of encouraging mutual investments on July 15, Azerbaijani Economy Minister Mikayil Jabbarov wrote on his social media page.

According to the Azerbaijani minister, a productive meeting was held with the Russian president's special envoy for relations with international organizations Boris Titov to achieve sustainable development goals.

"We explored potential opportunities for strengthening our bilateral economic relations, focusing on the following issues: joint efforts on sustainable development and compliance with environmental, social, and governance principles; support for sustainable development initiatives; and encouragement of mutual investments and the development of partnerships in the private sector," Jabbarov said.

In the first quarter of 2024, Russia's foreign direct investment (FDI) into Azerbaijan's economy amounted to $55.546 million, while Azerbaijan $7.184 mln invested into Russia's economy.