Russian minister talks on establishment of joint industrial enterprises in Azerbaijan (Exclusive)

Business Materials 4 April 2019 21:59 (UTC +04:00)

Baku, Azerbaijan, April 4

By Matanat Nasibova - Trend:

Russia hopes that the directions, which are fixed in the field of agricultural engineering, will be developed taking into account the availability of a good market for agricultural production and the support of Azerbaijan in the purchases of agricultural equipment," Russian Minister of Industry and Trade Denis Manturov, who is on a visit in Baku, told Trend.

The minister noted that Russia sees serious prospects for cooperation in this direction.

"The fact that in February 2019 we laid the foundation for cooperation in Azerbaijan with AzerMash on the assembly and production of light commercial vehicles jointly with the Russian partner GAZ group also shows a bilateral interest in the partnership cooperation of our countries, and in particular in the creation of new conscientious manufacturing enterprises. Of course, all areas of bilateral cooperation that were discussed today should be secured by the relevant agreements, after which it would be possible to talk about the time frame for the joint production. As for the timing of the implementation of joint projects in the field of agricultural machinery, and the industrial sector, everything will depend on how effectively bilateral economic cooperation will develop," the Russian minister said.

Baku hosted a meeting of Azerbaijani and Russian entrepreneurs. The event was attended by Azerbaijan’s Economy Minister Shahin Mustafayev, Chairman of the Board of the Azerbaijan-Russia Business Council Samad Gurbanov, Acting President of the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) Yusif Abdullayev, and Chief Director of the Russian Export Center Andrey Slepnev.

The Russian delegation consisted of representatives of more than 60 Russian companies operating in various sectors of the economy, including agriculture, ICT, automotive engineering, chemical industry and other sectors.

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


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