Azerbaijan, Russia interested in implementing joint projects (UPDATE)

Business Materials 4 April 2019 14:27 (UTC +04:00)

Details added, title changed (first version published at 14:07)

Baku, Azerbaijan, April 4

By Matanat Nasibova – Trend:

The development of Azerbaijani-Russian trade and economic cooperation demonstrates the serious dynamics of the strengthening of ties between the countries, Samad Gurbanov, Chairman of the Azerbaijani-Russian Business Council, said during his speech at an event held in connection with the arrival of a business mission of Russian industrial enterprises to Baku, Trend reports.

According to Gurbanov, this contributes to the creation and implementation of joint business projects, as well as the effective deepening of relations between the business circles of Azerbaijan and Russia.

Speaking about the activities of the Azerbaijani-Russian Business Council, Gurbanov noted that one of his most important activities is to help strengthen contacts between the business circles of the two countries in forums, conferences and seminars.

"The fact that the business mission has gained such a large number of participants, from both the Azerbaijani and the Russian sides, indicates a high interest in effective cooperation and the implementation of joint projects," Gurbanov said.

Gurbanov stressed that spheres such as mechanical engineering and digital technologies are very relevant for Azerbaijan, and there is great potential for joint development and expansion of cooperation in this area with Russian partners, including in terms of co-production and export to third countries.

"We believe that B2B contacts between Russian and Azerbaijani companies will produce good results," Gurbanov said.

Denis Manturov, Minister of Industry and Trade of Russia, is in Baku on a one-day visit. Together with the Minister are representatives of more than 60 Russian companies operating in various sectors of the economy, including in the fields of agriculture, ICT, automotive engineering, chemical industry, etc. have come with a visit to Baku along with the minister.

According to the State Customs Committee of Azerbaijan, trade with Russia amounted to $2.55 billion in 2018, including the export of Azerbaijani products to Russia in the amount of $665.74 million.