BAKU, Azerbaijan, July 27
By Sadraddin Aghjayev - Trend:
The trade turnover between Azerbaijan and Russia for the first quarter of 2021 exceeded the indicators of the first quarter of 2020 and the period before the COVID-19 pandemic, the Ministry of Industry and Trade of Russia told Trend.
According to the ministry, the pandemic has made its own adjustments to the plans of businessmen of Russia and Azerbaijan to increase trade between the two countries.
According to the Federal Customs Service of Russia, last year, there was an annual decrease in trade turnover with Azerbaijan by 8.9 percent.
“According to the State Customs Committee of Azerbaijan, in 2020, the trade turnover of Azerbaijan with all countries of the world decreased by 26.5 percent in annual circulation. In the same year, trade turnover between Russia and foreign countries decreased by 15.2 percent,” the ministry said.
In 2021, the economies of Azerbaijan and Russia are recovering, which has a positive effect on bilateral trade.
“So, in the first quarter of 2021, the trade turnover between Azerbaijan and Russia increased not only on annual basis but also exceeded the indicators of the pre-pandemic 2019. The priority areas of trade and economic interaction are enshrined in the Country Action Plan developed by the Ministry of Industry and Trade of Russia last year with a planning horizon until 2024,” the ministry stressed.
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