Russia and Azerbaijan to sign big package of documents

Russia and Azerbaijan to sign big package of documents

Baku, Azerbaijan, Aug. 20

By Anvar Mammadov – Trend:

Russia and Azerbaijan are planning to sign a big package of documents in the near future, Russian Ambassador to Azerbaijan Mikhail Bocharnikov said at a press conference Aug. 20.

He noted that the package will include documents on cooperation in the economic and humanitarian spheres.

"This package of documents will set a fundamental approach to economic cooperation. We primarily aim to increase our trade turnover; in 2017, it amounted to about $2.6 billion. We hope for its further growth," the diplomat said.

Bocharnikov said both countries also intend to continue to develop cooperation in industry, transportation and a number of other sectors of economy.

"Soon we will witness the creation of joint ventures with participation of Russian capital, which will create the foundation for our further rapprochement," the ambassador said.

He also noted that the work of the business councils of the two countries, in which the chairmen were replaced, has intensified recently.

"Our economic cooperation will get a new impetus until the end of the year," Bocharnikov said.

The decision to establish the Russia-Azerbaijan Business Council was made in 2015 at the 15th meeting of the intergovernmental commission. The Azerbaijan-Russia Business Council was established in 2016. The last meeting of the business councils in the expanded format was held in December 2017.

According to the State Customs Committee of Azerbaijan, trade turnover with Russia in January-July 2018 amounted to $1.3 billion. Russia accounts for 7.89 percent of the foreign trade turnover of Azerbaijan.

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