Russia and Azerbaijan implementing projects worth $7.5 billion

Russia and Azerbaijan implementing projects worth $7.5 billion

Russia and Azerbaijan are currently implementing joint projects worth $7.5 billion, Russian Deputy Minister of Economic Development Dmitry Volvach said following the XI Russian-Azerbaijani Interregional Forum held in Baku as part of the visit of Russian Prime Minister Mikhail Mishustin to Azerbaijan.

The Russian Ministry of Economic Development's delegation included the minister Maxim Reshetnikov and Dmitry Volvach.

"There are 14 major projects between Russian and Azerbaijani businessmen worth almost $7.5 billion," the Deputy Minister emphasized.

Today, more than 70 Russian regions are developing cooperation with Azerbaijan, agreements on trade, economic, scientific, technical and cultural cooperation have already been signed with many of them.

The Russian Ministry of Economic Development cited as an example of successful interregional cooperation the expansion of merchant shipping between the Astrakhan and Azerbaijani ports - this is an important direction for both countries, which can provide additional cargo flow within the International North–South Transport Corridor.

"The regions of Russia are interested in expanding contacts with Azerbaijan in key areas - industry, transport, shipbuilding, agriculture and investment. I am sure that the expansion of regional ties and strengthening of established contacts will help develop the economies of our countries, improve the quality of Russian and Azerbaijani citizens' lives," Dmitry Volvach concluded.

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