Azerbaijan, Stavropol Krai have broad opportunities for developing cooperation

Baku, Azerbaijan, April 4

By Emin Aliyev -Trend:

Russian Yessentuki city became a twin city of Azerbaijan's Naftalan.

The agreement was signed between the executive branch of Naftalan and the city administration of the Russian city following the meeting between the delegation headed by Deputy Prime Minister of Stavropol Krai, Andrey Murga and Azerbaijani Minister of Economy and Industry, Shahin Mustafayev.

During the meeting, the minister stressed the successful development of Azerbaijani- Russian relations, by emphasizing the role of mutual visits at the highest level.

Mustafayev said the two countries established a solid legal framework.

"More than thirty documents were signed only in the economic sphere," Mustafayev said. "There are about 570 Russian companies in the country. Some $ 628 million was invested in fixed capital. Azerbaijan has invested $995.5 million in the Russian economy for the past 10 years."

The minister added that Azerbaijan has successfully cooperated with the Russian Federation entities, including Stavropol Krai.

"The trade turnover between Russia and Azerbaijan increased by 10 percent in 2013, in particular with Stavropol Krai - by nearly 60 percent," he noted.

"Despite this, there are broad opportunities for further development of mutual cooperation, and Azerbaijan is interested in this," he said.

Andrey Murga in his turn said both sides have great potential, while its effective use will play an important role in the development of relations," Murga said during the meeting.

The prospects of developing the relations between Azerbaijan and Stavropol Krai, as well as issues of increasing the intensity of business forums, business meetings and other events were discussed during the meeting.

Translated by NH
Edited by SI

Follow us on Twitter @TRENDNewsAgency