On October 6, a Co-operation Protocol was signed in Baku between the Economic Development Ministry of Azerbaijan and the Ministry of Economic Development and Trade of Russia, Trend reports. The document was signed within the official visit of the Russian Minister of Economic Development and Trade German Gref.
The document envisages co-operation in all spheres of economy. Today we discussed the expansion of the co-operation, and indeed there are several spheres in Azerbaijan in which the demand is growing and the potential increases, and the interest of Russian companies towards the Azerbaijani markets raise, Gref stressed.
According to him, these spheres include power industry, distribution and generation of electric power, production of metals and machine-building.
According to the Russian Minister, the primary goals tasked by the Presidents of the two countries are to maximally broaden the economical, particularly non-raw material co-operation.
It fully meets the interests of Russia, and the governments of Azerbaijan and Russia will do all the best to enhance the geography of the investments. The trade turnover between the two countries exceeds $1 billion, and next goal tasked by the state heads is to achieve the level of $2 bln., Gref underlined.
The key tasks include increasing not only the number, but also the quality of the trade turnover. The main fact is to fill it with non-raw materials groups of commodities. But the potential sphere is the agriculture traditionally. We think that the service sector has a large potential (finance and transport services). We have a topic to discuss the expansion of other transit relations between our countries and the north-south corridor, the Minister concluded.