Azerbaijan, Baku, April 17 / Trend E. Ismayilov /
The trade turnover between Azerbaijan and Russia may exceed $5 billion over the next few years, parliamentary committee head Ziyad Samadzade told Trend today.
The Azerbaijan-Russia business forum organized by the Azerbaijani Chamber of Commerce and Industry has been held in Baku today.
"If we ensure the intensive development of relations with the Russian Federation's entities, then of course, the trade turnover will exceed $5 billion during the next years," Samadzade said.
He said that it is necessary to create a good investment sphere, to improve the legal framework and to protect investments from both sides.
"Today, many Azerbaijani businessmen participate in the formation of a new business sphere in Russia," he added.
The trade turnover between Azerbaijan and Russia reached a new milestone, reaching $3.077 billion as of 2011.
"This figure is highest in the history of bilateral relations during the post-Soviet existence," Russian Trade Representative in Azerbaijan Yuri Shchedrin told Trend earlier.
The trade turnover between Azerbaijan and Russia increased by 28.1 percent in 2011 compared to 2008. The exports from Russia to Azerbaijan increased by 25.8 percent and imports - by 39 percent.