Economy Ministry: Azerbaijan is Russia's most important economic, trade partner in South Caucasus

Azerbaijan is the most important economic and trade partner for Russia in the South Caucasus, Azerbaijan’s Deputy Economy Minister Niyazi Safarov said during the 18th meeting of Russia-Azerbaijan intergovernmental economic commission in Baku. 

According to him, Azerbaijan accounts for 45 percent of all Russian trade operations in the South Caucasus.

Safarov noted that Russia ranks first in Azerbaijan’s foreign trade.

He explained that the dynamic development of these relations, Safarov noted, is based on the growth of trade in recent years and the increase in investment opportunities between the two countries, as well as the organization of mutual visits at the highest level.

"Azerbaijan highly appreciates the expansion of trade relations with Russia in the field of digitalization of the economy, high technologies and innovations, and the Azerbaijan pavilion at VDNKh will become an important platform contributing to the development of bilateral economic relations," the deputy minister said.