Baku, Azerbaijan, Aug. 8
Azerbaijani Minister of Economy and Industry Shahin Mustafayev met with Russian Ambassador to Azerbaijan Vladimir Dorokhin on August 8.
During the meeting Mustafayev stressed the successful development of Azerbaijani-Russian relations in the economic sphere.
"Some 570 companies with Russian capital operate in Azerbaijan," he added. "The total volume of Russian investments in Azerbaijan's economy exceeds $ 1.8 billion, according to the ministry.
"Azerbaijan has invested over $1 billion in the Russian economy for the last 10 years," Mustafayev added. "The trade turnover between the two countries increased by 10.5 percent in 2013."
"The Russian market is traditional for Azerbaijan," he said. "More than 32 percent of non-oil exports of Azerbaijan, more than 30 percent of exports of agricultural products and processed products accounted for this country in 2013."
Russian ambassador to Azerbaijan also stressed the expansion of cooperation between Azerbaijan and Russia.
"The Russian market needs Azerbaijani products, including agricultural products," Dorokhin added.
The ambassador introduced a new head of the Russian trade representative office in Azerbaijan Eldar Tyabichev.
Mustafayev congratulated Tyabichev on his appointment. He expressed confidence in his support for further expansion of trade relations between the countries.
"Azerbaijan is interested in expanding export on the foreign markets, including traditional Russian market of non-oil products, namely, agricultural and processed products," he added.
"Today, Azerbaijan has great potential of the non-oil sector, as well as agriculture," Mustafayev said. "The non-oil sector production increases from year to year due to the measures of the state support."