Official: Azerbaijan, Russia’s Gazprombank have prospects for expanding co-op (UPDATE)

Business Materials 12 March 2019 11:55 (UTC +04:00)

Details added (first version posted on 10:56)

Baku, Azerbaijan, March 12

By Matanat Nasibova - Trend:

Azerbaijan and Russia’s Gazprombank have prospects for expanding cooperation, said Samad Gurbanov, chairman of the Azerbaijan-Russia Business Council.

He was speaking at a business seminar “Azerbaijan on the way to the implementation of investment projects: the possibilities of Gazprombank”, Trend reports March 12.

He said that Gazprombank has great and successful experience in financing projects in Azerbaijan.

Gurbanov also noted the role of the Azerbaijan-Russia Business Council headed by him in cooperation between the two countries, stressing that it is an effective mechanism in deepening cooperation between the business circles of Azerbaijan and Russia.

“The business council consists of 120 members representing various industries,” he added. “They include private companies and state organizations, as well as small and medium business representatives. The business council actively cooperates with partner organizations such as the Russia-Azerbaijan Business Council, the All-Russia Business Association "Delovaya Rossiya", the Russian trade office in Azerbaijan, as well as with government agencies, in particular Azerbaijan’s Economy Ministry and the Ministry of Economic Development of Russia.”

The Azerbaijan-Russia Business Council was established in 2016.

The main goal of the Council is further deepening of ties in the fields of economy and mutual investment between Azerbaijan and Russia, cooperation between businessmen. To this end, the Azerbaijan-Russia Business Council closely cooperates with a similar organization in Russia - the Russian-Azerbaijani Business Council, and systematically holds joint meetings of business councils with the participation of businessmen.