Azerbaijan, Russia’s Stavropol region to discuss issues of expanding economic ties

Photo: Azerbaijan, Russia’s Stavropol region to discuss issues of expanding economic ties / Economy news

Baku, Azerbaijan, March 27

By Emin Aliyev - Trend:

As part of the visit of the delegation headed by the Acting Governor of Russia's Stavropol Krai (region), Vladimir Vladimirov, an Azerbaijani-Russian business forum will be held in Baku, a message posted on the website of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) on March 27.

The business forum will be organized by AZPROMO with the support of the Azerbaijani Ministry of Economy and Industry.

Representatives of companies representing Russia's Stavropol region and those operating in the agro-industrial complex, food industry, in the spheres of construction, energy, chemistry, education and others will participate at the event.

Over the past 10 years the volume of Azerbaijani investments in the Russian economy amounted to around $1 billion. The volume of these investments amounted to $200 million in 2013. About 570 Russian companies operate in the country, Azerbaijani Minister of Economy and Industry, Shahin Mustafayev said earlier. Over $628 million was invested in fixed capital.

The foreign trade turnover between Azerbaijan and Russia amounted to $2.58 billion in 2013 which is by 10.47 percent more than in 2012, according to Azerbaijani State Customs Committee. The export to Russia amounted to $1.078 billion, while the import of goods from Russia to Azerbaijan totaled $1.505 billion during the reporting period.

Translated by L.Z.

Edited by C.N.

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