Azerbaijan took serious step to develop non-resource based exports
Baku, Azerbaijan, Nov. 16
By Azad Hasanli – Trend:
Azerbaijan has taken a serious step forward for the development of non-resource based exports, said Elgiz Kachaev, chairman of the Committee for Entrepreneurship and Consumer Market Development of St. Petersburg, at the Azerbaijan-Russia business meeting in Baku Nov. 16.
He said trade turnover between St. Petersburg and Azerbaijan is increasing. Thus, he continued, exports from St. Petersburg to Azerbaijan rose 2.5 times and imports from the country increased by almost five times in the first half of 2017.
Speaking about the importance of establishing relations with Azerbaijan, Kachaev said St. Petersburg is interested in importing quality products, and Azerbaijani goods have already turned into a brand.
Russia is one of the main economic and trade partners of Azerbaijan. Russia’s investments in Azerbaijan’s economy exceed $3.7 billion. Azerbaijani entrepreneurs invested over $1 billion into the Russian economy.
The data from the Azerbaijani State Customs Committee shows that trade turnover between Azerbaijan and Russia amounted to almost $1.66 billion in January-October 2017, which makes up 10.35 percent of the entire trade turnover between Azerbaijan and other countries.