Russia’s Dagestan ready to offer preferences to Azerbaijani entrepreneurs (UPDATE)

Business Materials 12 May 2016 20:17
Dagestan stands ready to offer preferences to Azerbaijani entrepreneurs.

Details added (first version posted on 16:43)

Baku, Azerbaijan, May 12

By Azad Hasanli - Trend:

Dagestan stands ready to offer preferences to Azerbaijani entrepreneurs, said Ramazan Abdulatipov, head of Russia's Dagestan Republic.

He made the remarks at the Azerbaijan-Russia business meeting in Baku May 12.

Abdulatipov pointed out that Dagestan is interested in expanding the relations with Azerbaijan, adding that there are opportunities to create joint enterprises in Dagestan.

Azerbaijan and Dagestan can cooperate in the spheres of construction, tourism and services, he added.

The effective use of the existing potential can make it possible to significantly develop the trade and economic relations between Azerbaijan and Dagestan, according to Abdulatipov.

He also noted that Azerbaijan and Dagestan have a potential to increase the trade turnover by dozens of times.

The trade turnover, which stood at $160 million as of 2015, doesn't correspond to the level of the Azerbaijani-Dagestani relations and it can be significantly increased, added Abdulatipov.

The trade turnover between Dagestan and Azerbaijan stood at $161.1 million in 2015, according to Russia's North Caucasus Customs Directorate.