Azerbaijan and Russia's Stavropol sign series of agreements

Photo: Azerbaijan and Russia's Stavropol sign series of agreements / Economy news

Baku, Azerbaijan, April 3
By Emin Aliyev - Trend:

Azerbaijan and Russia`s Stavropol Krai (region) strengthen cooperation in the economic sphere.

An agreement on cooperation was signed between the Chambers of Commerce of Azerbaijan and Stavropol Krai in the course of the Azerbaijani-Russian business forum held in Baku, which is organized in the framework of the visit of the Russian delegation to the country.

Furthermore, an agreement on cooperation in the field of tourism was signed between the Azerbaijani Tourism Association and Stavropol`s resort authority LLC as well as an agreement on cooperation between the Confederation of Trade Unions of Azerbaijan and the resort association of the Federation of Independent Trade Unions of Russia "Profkurort."

The business forum was attended by representatives of companies from Stavropol Krai operating in the agro industrial complex, food industry, in construction, energy, chemistry, education and others.

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 S.I.
Edited by C.N.

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