BAKU, Azerbaijan, April 26. Trade turnover between Russia and Azerbaijan amounted to $631 million in 1Q2022, which is almost eight percent higher than same period last year, Azerbaijani Deputy Prime Minister Shahin Mustafayev said during a plenary session of Azerbaijan-Russia Intergovernmental Commission on Economic Cooperation, on April 26, Trend reports.
According to him, Russia is in general the third trading partner of Azerbaijan, and first - in terms of non-oil exports.
"Trade turnover between our countries grew by more than 12 percent and reached $3 billion in 2021. We hope that this positive trend will continue throughout 2022 and we will be able to achieve better results,” Mustafayev added.
“Mutual investments are also growing dynamically: Russia has invested in Azerbaijan's economy $6.3 billion, and Azerbaijan - $1.2 billion into Russia's economy. In addition, Russian business is widely represented in local market of our country and there are about 1,130 enterprises with Russian capital," he said.