The 24th meeting of the Azerbaijan-Russia Intergovernmental Commission has taken place today in Zangilan.
The meeting is co-chaired by Azerbaijani Deputy Prime Minister Shahin Mustafayev and Russian Deputy Prime Minister Alexei Overchuk. The event is attended by heads of relevant government agencies from both countries and authorized representatives.
Participants of the 24th meeting of the Azerbaijan-Russia Intergovernmental Commission visited Zangilan city and were provided with detailed information about the large-scale restoration and reconstruction work being carried out there.
Deputy Prime Minister Shahin Mustafayev said that investment cooperation between Azerbaijan and Russia is showing positive dynamics
“The total amount of Russian investment in Azerbaijan’s economy stands at 10.7 billion US dollars, with 2.9 billion dollars allocated to the non-oil sector,” Shahin Mustafayev said.
The Deputy PM noted that, as of April 1, 2026, over 2,100 companies with Russian capital are registered in Azerbaijan, with over 1,400 actively operating. These companies, he added, are engaged in the key sectors of the economy, including industry, agriculture, transport, construction, trade, and services.
Mustafayev highlighted that the country offers a favorable business environment for Russian investors.
Cooperation between Azerbaijan and Russia in the field of transport and logistics is expanding, Russian Deputy Prime Minister Alexei Overchuk said.
According to him, Azerbaijan and Russia are developing a strategic partnership to strengthen transport links across the Eurasian region. He noted that new international value chains are being formed, particularly within the framework of the North-South International Transport Corridor.
