Azerbaijan, Baku / corr. Trend S.Babayeva / The Deputy Minister of Information Technology
According to him, the Azerbaijan market shows appeal for the Russian companies both from the point of view of the realization of joint projects within the IT sphere as well as investing into this sector.
" Azerbaijan is on the border with Russia , possesses its own oil and gas resources, providing an opportunity to implement exportation policy. Each of these three criteria is in favor of co-operation of Azerbaijan and Russia in the key sphere of the economy, especially in the oil and telecommunication sector," Milovansev stated.
He added that that according to expert assessments, the Azerbaijani telecommunications market totals $362 mln. It forms nearly 5% of the GDP of Azerbaijan. At present the Russian investment participates in only one telecommunication operator in Azerbaijan . 50% of the shares of the communication operator AzEuroTel belong to the Russian Oil Company "LUKoil".