This week, Russia is hosting the largest international economic forum, SPIEF-2024, in St. Petersburg. It traditionally includes a representative Azerbaijani delegation. Vestnik Kavkaza spoke with the Executive Director of the Azerbaijan Export and Investment Promotion Agency (AZPROMO) about economic contacts between the two countries.
- How would you assess the current level of economic relations between Russia and Azerbaijan?
- During the "Russia-Azerbaijan" dialogue, held as part of SPIEF-2024, I've answered a similar question from the moderator in one word: excellent. I believe that Russian-Azerbaijani economic ties are truly in excellent condition and are of a strategic nature. This was documented in February 2022, when our Presidents signed the Declaration on Allied Interaction, which brought the entire complex of relations between Azerbaijan and the Russian Federation to a new level.
In all areas, Russian-Azerbaijani economic cooperation is now growing — both trade turnover and investment flows in both directions. Absolutely everything is positive, which is ensured by serious, painstaking work to realize the potential of interaction between the two states. I would like to pay special attention to the "road map" signed in January of this year. It covers a specific action plan in almost all areas of joint activity between the two countries and provides for specific actions.
The Russian Federation remains the leading importing country of our non-oil and non-gas exports, which is also very important.
- What is happening in the investment sphere of interaction between Russia and Azerbaijan?
- From an investment point of view, Azerbaijani companies feel very good in the Russian Federation. Russian companies invest in production in almost all regions of Azerbaijan. I would like to note the investments in the opening of a KamAZ service center in the liberated territories. This is an important area for the republic. We receive Russian investments in both the agro-industrial complex and industrial production.
Azerbaijani entrepreneurs are implementing a huge number of projects together with Russian business, and statistics show that the number of projects is growing. Just a few weeks ago, a "road map" was signed between the State Agency for Promotion of Developed Economic Zones of the Republic of Azerbaijan and Khimgrad of the Republic of Tatarstan on the creation of a joint industrial park in Azerbaijan. The famous Russian company Abrau-Durso invested in the Sheki Sharab plant in the city of Sheki and became its owner and the owner of the legendary Aghdam wine brand.
- What is Azerbaijan doing to create an attractive investment climate?
- Indeed, the investment climate in Azerbaijan is very good. The excellent and competitive infrastructure has been created to make investors feel comfortable. There are industrial zones and industrial parks. The Alat free economic zone is operating successfully. This economic zone is unique. Apart from criminal legislation, nothing else is applied there, since it is a special export-oriented zone.
In the liberated territories, starting from January 2023, tax benefits are provided for starting a business for the first 10 years of work in Karabakh and Eastern Zangezur. We are glad that Russian companies are actively participating in the revival of the liberated territories. More than 20 requests have been received from the Russian Federation regarding the construction, infrastructure and industrial areas of the restoration of Karabakh.
- How do you assess SPIEF 2024 forum?
- We see SPIEF as a unique platform where we can meet with almost all of our Russian partners with whom we work — these are both government institutions and private companies. Together we compare notes and see what has been done and what remains to be done to bring this or that matter to a successful conclusion.
