Russia, Astrakhan, 3 October/ Trend , R Agayev/ "Azerbaijan is Russia's important partner in the Caspian under the joint declarations on friendship, cooperation and strategic partnership signed with Russia," said Elvira Nabiullina, minister of economic development and trade of Russia said in the inter-governmental economic conference of the Caspian littoral countries.
"One of the indicators of dynamic development of Russian-Azerbaijani trade and economic ties is that trade turnover between Azerbaijan and Russia increased by 56.5% to over $1bln in January to July 2008," Nabiullina said.
The economic conference of the Caspian littoral states is held on the base of decision of the heads of Caspian littoral states passed in 2007 in Tehran summit.
This meeting is of great significance for the prospects of economic cooperation of all the Caspian littoral states which is crucial to long-term relations between our countries, Nabiullina said.
The conference mainly focuses on prospects of economic cooperation all Caspian littoral states. All spheres of multilateral economic cooperation including power engineering, transport and maintenance of bio resources of the Caspian, ecological security in the region and working out mechanisms to finance joint ecological projects will be discussed at the conference.
"The conference will pay special attention to prospects of establishment of Organization of Caspian Economic Cooperation," she said.
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