Baku to host Azerbaijan-Russia business forum

Baku to host Azerbaijan-Russia business forum

Baku will host the Azerbaijan-Russia business forum June 20, Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said June 4, Trend reports.

The event, to be organized with the support of Azerbaijan's Ministry of Economy, will be attended by around 70 Russian companies operating in the spheres of light and heavy industry, food industry, finance, transportation, trade, engineering, healthcare and other sectors.

Russia is one of the main trade and economic partners of Azerbaijan. The country has invested almost $2 billion in Azerbaijan's economy since 2004. Meanwhile, Azerbaijan's direct foreign investments in Russia have exceeded $1 billion.

The trade turnover between the two countries stood at $465.87 million in January-April 2016 and $387.3 million of this volume accounted for the import of Russian products, according to Azerbaijan's State Customs Committee.