Azerbaijan, Russia may increase mutual trade turnover by at least 3 times
Baku, Azerbaijan, March 4
By Matanat Nasibova – Trend:
Today, there is a need for the creation of any expert platform for cooperation between the Azerbaijani and Russian expert communities with the participation of leading analysts, leading Azerbaijani economist, professor Elshad Mammadov said during a video conference entitled "Investment cooperation between Russia and Azerbaijan".
“The challenges faced by our national economies are dictated on the whole by all technological processes that occur in the global economy,” he said.
“Today, taking into account all the diversity and differences in the volumes of our economies, there are significant systemic similarities, as well as similar points for investments,” Mammadov added. “At the same time, the systemic weaknesses of the economies of the two countries have much in common. This makes it topical to search for the best ways to overcome these challenges to develop the economic opportunities of our countries."
The expert stressed that at this stage of development of bilateral relations, there is a great need for ongoing, sustainable cooperation.
"This is especially important taking into account today's trusting relations between our countries,” Mammadov said. “The presidents of our countries will give an impetus to the strengthening of bilateral relations in general, and in particular for the development of the Azerbaijani and Russian economies.”
“Today, the trade turnover between our countries is steadily increasing, although it is clear that the current mutual trade indicators do not reflect the full potential of trade and economic relations,” he said.
“According to the expert data, we have the opportunity to increase the volume of trade by at least three-four times,” Mammadov said. “Today's figure of $2.5 billion does not cover the full potential of bilateral cooperation.”
"Along with the economy, our countries have a great potential for intensifying humanitarian cooperation, particularly in the field of education,” Mammadov said. “The steps being taken in this sphere open up great opportunities to further strengthen bilateral ties between Russia and Azerbaijan."
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