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Azerbaijan and Russia look at record trade levels for 2013

Business Materials 30 July 2013 20:21 (UTC +04:00)

Azerbaijan, Baku, July 30 / Trend, I. Khalilova /

Azerbaijan and Russia will reach record bilateral trade levels in 2013. The countries are focused on achieving a $4 billion mark, Russian trade representative in Azerbaijan Yuri Shchedrin told Trend today.

"A record level of trade turnover between Azerbaijan and Russia was already achieved in 2012," he added. "There is full confidence and hope that record levels in bilateral trade will be reached this year."

According to him, trade turnover between Azerbaijan and Russia significantly increased. This is demonstrated by the growth seen in January-May. According to Russian statistics, growth rates hit 47.2 percent, while according to Azerbaijani statistics, they reached 38.3 percent.

Last year, bilateral trade amounted to $3.4 billion.
"The main thing is that earlier, Azerbaijan was among Russia's top five trade partners among CIS countries," he stressed. "At present, it is among four countries and the leading partner of Russia after Kazakhstan, Belarus and Ukraine."
The structure of bilateral trade and economic relations continues to be very diverse. Deeply processed products were around 90 percent of Russia's exports. This makes it less dependent on the situation in the world hydrocarbon market and on other raw materials.
Russia main exports are food, machinery, equipment, vehicles, timber, paper, chemicals, electric power, ferrous and non-ferrous metals and metal-rolls.
At present, around 71 out of 83 regions of the Russian Federation have been involved in foreign trade with Azerbaijan.
The visits, business forums and business meetings are being organized to further expand relations.

"The top-level meetings [Russian President Vladimir Putin is planned to visit Azerbaijan in August] will give a significant impetus to the development of bilateral cooperation in the economic, energy and other areas," Shchedrin added.

Currently, work is underway to expand legal framework in the field of energy, transport and other areas. A package of documents is expected to be signed during the Russian President's visit to Baku.

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