Azerbaijan, Baku, Oct. 29/ Trend corr.J.Nasibova /
Azerbaijan is one of the fastest developing countries in the Post-Soviet area and the Karachay-Cherkess Republic of Russia attaches great importance to economic relations with Azerbaijan, the Head of Karachay-Cherkessia Rashid Temrezov told reporters after the Azerbaijani-Russian business meeting.held in Baku on Monday.
"As a subject of the Russian Federation, we expect a lot from the cooperation with Azerbaijan, there are many proposals, including investment offers. Interesting proposals for the establishment of joint ventures in agriculture, hydropower were also made at the meeting with the President of Azerbaijan Ilham Aliyev and the Prime Minister Artur Rasizade." Tamrazov said.
This year, an agreement on construction of a plant for the production of building materials was signed with the Azerbaijani construction company Matanat A at the international forum in Sochi.
"The company has already visited Karachay-Cherkessia, the venue has been chosen, we are planning to start the project in the near future," Temrezov said.
The delegation led by the head of Karachay-Cherkessia Rashid Temrezov also met with the Minister of Economic Development Shahin Mustafayev. The meeting focused on the further development of economic relations between Azerbaijan and the Karachay-Cherkess Republic, development of investment cooperation and collaboration between entrepreneurs.
Over the past 10 years, Azerbaijan has invested some $563 million in the Russian economy. Within 2002 - 2011, Russia has invested $336 million in Azerbaijan.