Russian business interested in investing in Azerbaijan’s non-oil sector

Photo: Russian business interested in investing in Azerbaijan’s non-oil sector / Economy news

Baku, Azerbaijan, June 30
By Emin Aliyev - Trend:

Russian business is interested in investing in the non-oil sector of Azerbaijan.
Russia's Minister of Economic Development Alexei Ulyukayev made the remarks in his interview with "Rossiyskaya Gazeta".

"I would like to emphasize in particular the attractiveness of the conditions created by industrial parks in your country, where residents will benefit from significant tax and customs preferences, as well as free access to the infrastructure," he said.

At the same time, it is necessary for Azerbaijan to intensify promotion and advertising, according to the Russian minister.

"In particular, this concerns informing Russian businesses, which are largely unaware of the favorable opportunities for investment in the industrial parks and other areas of the economy of Azerbaijan," Ulyukayev added.

At present, the country has one (Sumgait Technologies Park, STP), and construction of three more industrial parks are being implemented: Sumgait chemical industrial, Balakhani industrial park and high technology park in the Pirallahi district of Baku.

The trade turnover between the two countries amounted to $755.45 million in January-May 2014, according to the State Customs Committee of Azerbaijan. At the same time, the country imported Russian products in the amount of $512.83 million. The export volumes to Russia totaled $242.62 million.

Edited by CN

Follow us on Twitter @TRENDNewsAgency