Baku, Azerbaijan, Apr. 6
By Anvar Mammadov - Trend:
Some Azerbaijani companies have plans to invest in such industries of Russia as construction, processing of agricultural products, creation of logistics infrastructure, the chairman of the Chamber of Commerce of the Russian Federation in Azerbaijan Eldar Tlabichev told Trend.
He noted the positive development of relations between Azerbaijan and Russia and stressed the need for expansion of cooperation in trade and investment fields.
"Russian investments in fixed assets of Azerbaijan in 2014 amounted to 296 million manats, which is a two-time increase compared with 2013," said Tlabichev. "I believe that with the development of new areas of cooperation, this figure will only grow."
It should be noted that the direct investments of Azerbaijan in the Russian economy exceeded $1 billion since 2004. At the same time, Russia has invested more than $1.8 billion in the economy of Azerbaijan since 2004.
More than 600 companies with Russian capital currently operate in Azerbaijan.
Russia ranks fourth in the list of foreign trade partners of Azerbaijan, according to the State Customs Committee of Azerbaijan. The trade turnover between Azerbaijan and Russia amounted to $304.3 million for the first two months of 2015, which is 19.4 percent more than in the same period of 2014. At the same time, Russia ranks second in total imports of Azerbaijan among the importing countries with a share of 14.91 percent.
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