Azerbaijan, Russia may increase mutual trade turnover by at least 3 times

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."

----

Follow the author on Twitter: @MatanatNasibova

Georgian Meskhetian Brand Winemaking Company enters new markets
Georgian Meskhetian Brand Winemaking Company enters new markets
Azerbaijan eyes to reduce greenhouse gas emissions in upcoming years
Azerbaijan eyes to reduce greenhouse gas emissions in upcoming years
UK increases import of Azerbaijani-made products
UK increases import of Azerbaijani-made products
Loading Bars
Latest
ICRC facilitates handover of combatants bodies killed in action during escalation of Karabakh conflict
Amnesty International verifies use of banned cluster bombs by Armenia to attack Azerbaijani Barda (PHOTO)
Azerbaijan avenges attack on Barda: Armenian units that subjected to fire civilian infrastructure, civilian population destroyed (VIDEO)
French COJEP issues report on civilian casualties as result of Armenian attacks on densely populated Azerbaijani areas
Nizami Ganjavi International Center discusses renewed fighting between Armenia, Azerbaijan
Georgian Meskhetian Brand Winemaking Company enters new markets
Armenian Armed Forces' attempts to attack prevented in several directions - MoD
Azerbaijan issues statement on handing over bodies of killed servicemen to Armenia
Azerbaijan's MoD notes chaos, mass desertion in Armenian army
Azerbaijan eyes to reduce greenhouse gas emissions in upcoming years
Azerbaijan ratifies agreement on interaction of CIS member states' customs authorities
Azerbaijan reveals volume of tobacco production in Shaki district
UK increases import of Azerbaijani-made products
Georgia to cover utility fees of certain citizens starting from November
Canadian company to be engaged in gold mining in Georgia
Azerbaijani AFB Bank's net profit decreases
EBRD supports Georgian transport sector
No simple solution for Karabakh conflict, says Russian president
Azerbaijan approves law to rename 'Veng' village in Khojavand district into 'Chinarli'
Azerbaijani Prosecutor General's Office updates on woman killed following Armenia's missile fire
Azerbaijan to establish embassy in Cuba
Chairman of Azerbaijani community of Nagorno Karabakh calls on Canadian MP to apologize
Ombudsman of Azerbaijan sends protest letter to UNICEF regarding Armenian provocations
KAZ Minerals metals output on track to exceed full year production guidance
Reports about shelling of Russian border outpost false, says Azerbaijan's MoD
Servicemen of Armenian regiment refuse to take part in Karabakh hostilities
Russia making vigorous efforts to de-escalate Karabakh conflict as soon as possible - MFA
German allocates additional funds to Georgia for fighting COVID-19
Armenian Armed Forces shelling Azerbaijan’s Goranboy, Tartar, Barda
National Bank of Georgia sells funds at foreign exchange auction
World will lose heavily from enmity with Turkey and Azerbaijan, Turkish top official on Trend's 'Baku-Istanbul' teleconference (PHOTO/VIDEO)
Discussions related to durable resolution of Karabakh conflict ongoing constantly - OSCE (Exclusive)
CNPC Drilling Company in Turkmenistan opens tender to buy electric batteries
Number of high-ranking Armenian officials dismissed from their posts within month
One more Azerbaijani civilian killed by Armenian Armed Forces - top official
Azerbaijan sharply increases import of eggs from Georgia
Lebanese human rights defenders condemn Armenian vandalism in Beirut
Armenia once again violates ceasefire agreements - FACTS
Azerbaijan increases tea imports from Georgia
VTB Bank Kazakhstan's parent bank expected to facilitate bank's growth plans for 2020-2021
Azerbaijan appeals to UNICEF regarding Armenia's terror against Barda's civilians
Facebook gains court backing in document row with EU regulators
Commissioning of desalination plant in Kazakhstan's semi-desert zone postponed
Number of debit cards in Azerbaijan continues to grow
Georgia reduces imports of construction materials from Azerbaijan
Azerbaijan reduces import of cigarettes from Georgia
Residents of Barda fully confident in Azerbaijani army - Executive authority
Georgia increases oil import from Azerbaijan
Azerbaijan reveals details of casualties, injuries in Tartar inflicted by Armenian troops
Electricity production using renewable energy sources increases in Kazakhstan
Azerbaijan increases import of passenger cars from Georgia
Kazakhstan decreases imports from Austria
Precious metal prices in Azerbaijan down
Austria interested in further promoting economic co-op with Turkmenistan
People like Vladimir Yevseev call on Armenia to commit war crimes - Israeli expert
Ronaldinho films video message in support of Azerbaijan
Missile-hit area of Azerbaijan's Barda city targeted purposefully - Executive Office
Armenian military-political leadership to be punished soon – Azerbaijani prosecutor general
Kazakhstan, Spain trade down nearly threefold amid COVID-19
Bashkortostan boosts fuel export to Uzbekistan
President Ilham Aliyev calls President Recep Tayyip Erdogan
Azerbaijan confirms 483 more COVID-19 recoveries
Small industrial zone to be created in Uzbekistan’s Tashkent
First Vice-President Mehriban Aliyeva congratulates brotherly people of Turkey on 29 October-Republic Day
Kazakhstan, Austria agree on Action Plan of Kazakhstan-Austrian Business Council for 2021
Armenian leadership shelled Tartar ignoring visit of diplomats - President's aide
Azerbaijani currency rates for Oct. 29
China's premium car buyers drive VW back to profit
Iran reveals its COVID-19 data for October 29
Kraft Heinz third-quarter sales beat estimates
Bahar Azadi gold coin price again rising in Iran
Georgia has record high grape harvest in past 30 years
Int'l journalist sends Letter to Joe Biden in regards to his statement on Karabakh
Armenia shells Goygol district, fire breaks out in forest - Ministry of Emergency Situations
Joint technical committee to be set up related to Khudafarin & Giz Galasi hydro junctions
ADB approves loan to support Georgia’s economic recovery
Azerbaijan's Nakhchivan increases value of its agricultural production
Turkmenistan plans to increase natural gas supplies to China
Armenian servicemen, who fire at civilians in Azerbaijan’s Barda, killed on battlefield (VIDEO)
Azerbaijan shoots down two Su-25 of Armenia – Defense ministry
Aircraft of Azerbaijani Armed Forces not involved in today's battles - Defense Ministry
Turkish Airlines to launch multiple charter flights to Georgia
Georgia's economic growth rate to up
Armenia used cluster bombs prohibited by all int'l conventions to attack civilians in Barda - Assistant to First Vice President of Azerbaijan
Azerbaijan’s all Smerch multiple rocket launchers fully operational – Defense ministry
Azerbaijan's Zangilan city liberated not long before 27-year anniversary of its occupation
Azerbaijan hands over bodies of soldiers, captured civilians to Armenia - president's aide
Azerbaijan bombing maternity hospital in Nagorno-Karabakh's Khankendi - fake
Top Iranian cleric condemns Armenia killing innocents in Azerbaijan's Barda city
Azerbaijan to become regional leader in energy efficiency - EU4Energy manager
Assessment of Turkmenistan's hydrocarbon resources published
Barda is beautiful and strong with reinforced determination - top official
Azerbaijani MPs to observe parliamentary elections in Georgia
Georgian vegetable oil company Qarva expanding its business
Assistant to Azerbaijani president, foreign diplomats visit Tartar
Kazakh-Chinese bitumen plant opens tender to buy electric materials
Neighboring countries increase demand to buy subsidized Iranian products
IFRC president makes statement on death of volunteer following Armenia's Barda shelling
Azerbaijan gives update on civil casualties, damages, following Armenia's attacks
Eni’s capex almost halves year-on-year
All news