Azerbaijan and Russia are discussing the opportunities for investing of Azerbaijani capital in the Russian market. The Azerbaijani Minister for Economic Development, Heydar Babayev, informed that the Russian Minister for Economic Development and Trade, German Gref, came out with such initiative in meeting with the Azerbaijani President Ilham Aliyev in Baku on 6 October 2006, Trend reports
We are seriously considering the issues. There are still investments by physical entities and definite companies would be better to join, as we want to the movement of capital not to be one-sided, Babayev underlined.
The Russian Minister also informed about the results of talk with RusAlom. Moreover, other investment projects will also be discussed.
We will with pleasure see the Azerbaijani companies in Russia. I know that now several investment projects in Russia are under consideration. I met with the leadership of the Azerbaijani companies, head of the International Bank of Azerbaijan and they promised support to the Bank's activities in the territory of Russia and its branching out. Of course, we will promote and develop, Gref underscored.
Along with banks, another sector that can be encouraged in Russia is agriculture and power engineering. All linked with refinery of agriculture products is a very important component of our cooperation and there are good perspectives. Our key task is to transit maximally favorable terms for business. Simplification of procedures on delivery of agriculture products to Russia will be done and it is necessary to reveal the impeding terms and are ready to remove these problems. These are issues that are on agenda, but new project will be born from the frequency of contacts, Gref underscored.