Azerbaijan, Russia mulling new agriculture projects
Baku, Azerbaijan, Feb. 14
By Azad Hasanli – Trend:
Azerbaijan and Russia are discussing the implementation of new projects in agriculture, Farhad Sattarov, executive director of the Azerbaijan-Russia Business Council, told Trend.
“Within the Council, we are currently studying a number of projects to attract various investments from Russia to Azerbaijan, as well as from Azerbaijan to Russia,” he said.
There are talks which mostly cover agriculture, Sattarov said, adding that he cannot tell more about the issue.
There are traditional spheres Russian investors put funds in, according to him.
“First of all, they are agriculture, the oil and banking sectors. For example, the VTB Group and Lukoil work very actively in Azerbaijan,” he said, adding that these spheres hold significant potential for development of cooperation.
Sattarov further spoke about the activities of the business councils in Azerbaijan and Russia.
“There is a similar organization in Russia – the Russia-Azerbaijan Business Council. We closely coordinate our work and hold consultations. Of course, we are planning joint visits on the basis of our program of activities,” he added.
The Azerbaijan-Russia Business Council and the Russia-Azerbaijan Business Council were created in 2016. In total, the councils include more than 50 different companies.
Trade turnover between Azerbaijan and Russia amounted to more than $2.05 billion in 2016, and $1.6 billion out of this accounted for the import of Russian products, according to Azerbaijan’s State Customs Committee.