Trade turnover between Russia and Azerbaijan growing every year
Baku, Azerbaijan, March 4
By Sara Israfilbayova, Jeyhun Alakbarov – Trend:
The indicators of trade turnover between Azerbaijan and Russia testify to a noticeable growth trend, Deputy Director General of Trend news agency Arzu Naghiyev said.
Naghiyev made the remarks in Baku during the Moscow-Baku video conference entitled "Economic and Investment Cooperation of Azerbaijan and Russia: New Points of Growth" at the press-center of Trend news agency on March 4.
“The trade turnover volume between the two countries reached $170 million in January 2019, which is four percent more than in January 2018,” he said. “The trade turnover volume reached $2.5 billion in 2018, which is 19.1 percent more than in 2017.”
"This growth trend is felt more every year," Naghiyev added. “The trade turnover volume between Azerbaijan and Russia reached 7.3 percent of Azerbaijan’s total foreign trade turnover in January.”
“The conference entitled “Building a common future, search for a common past and development of a common present” was held in Baku in late February in which the Russian and Azerbaijani MPs and experts participated.
Naghiyev added that this is a policy aimed at improving relations between the countries.
“Azerbaijani President Ilham Aliyev visited Russia three times in 2018,” he said, adding that the 9th Azerbaijan-Russia Interregional Forum was held in Baku with the participation of Russian President Vladimir Putin, during which a number of important issues were discussed.
Naghiyev stressed that 700 joint ventures with Russian capital operate in Azerbaijan.
"The countries successfully cooperate in pharmacology,” he said. “The Russian companies have invested over $4 billion in the Azerbaijani non-oil sector. Azerbaijani companies have invested $1 billion in Russia."
“Azerbaijan and Russia are implementing a number of big joint projects, such as the North-South International Transport Corridor,” Naghiyev added.
"The foundation of a new automobile plant has been recently laid in Azerbaijan’s Hajigabul Industrial Site,” he said. “The amount of investments made in the Hajigabul Industrial Site will reach 14 million manats. At the first stage, 100 people will work here and about 1,000 cars will be produced a year."
The Moscow-Baku video conference entitled "Economic and Investment Cooperation of Azerbaijan and Russia: New Points of Growth" was held at the press-center of Trend news agency on March 4.
The Azerbaijani and Russian experts who discussed the pace and scale of development of the economic projects which are being implemented, the formation of an axis of stable economic interaction by Moscow and Baku were involved in the event. The current level of cooperation between the countries, potential spheres for cooperation and other issues were also considered.
Follow the author on Twitter: @IsrafilbekovaS