BAKU, Azerbaijan, Feb. 21
By Sadraddin Aghjayev – Trend:
The visits by business representatives of Russia's regions to Azerbaijan are essential for the development of bilateral trade and economic relations, Azerbaijani Deputy Minister of Economy Niyazi Safarov told reporters, Trend reports.
According to him, the presidents of Azerbaijan and Russia play a leading role in the enhancement of political and trade-economic relations between the two countries.
"Friendship between the presidents and the decisions made at the highest state level give a very serious impetus to the development trade-economic ties. Despite the negative impact of the COVID-19 pandemic on the economies of Russia and Azerbaijan, the countries have demonstrated stable growth and recovery," Safarov said. .
The deputy minister noted that the trade turnover between Azerbaijan and Russia increased by over 12 percent in 2021 compared to 2020.
"The export growth in the reporting period exceeded 30 percent, while imports totaled nearly six percent. These figures indicate the potential we have for further strengthening of mutual trade-economic relations," Safarov stated.
He also outlined that Azerbaijan cooperates with more than 80 regions of Russia.
"We have signed various agreements on trade and economic issues with about 20 Russian regions," the deputy minister said.
As for Safarov, Azerbaijan is considering opportunities to develop communication and cooperation with Russia's Udmurtia region in the overall context of reinforcing trade-economic ties.