New joint projects between Azerbaijan, Russia to increase mutual trade turnover

Business Materials 22 January 2021 07:01 (UTC +04:00)
New joint projects between Azerbaijan, Russia to increase mutual trade turnover

BAKU, Azerbaijan, Jan. 22

By Fidan Babayeva - Trend:

The number of commodity producers of Azerbaijan and Russia, carrying out mutual trade turnover, will increase soon thanks to the implementation of new joint projects, Ruslan Mirsayapov, trade representative of Russia in Azerbaijan, told Trend.

"During the first half of the year, we expect the volumes of our trade turnover to recover, at least at the level of 2019," the trade representative said. "We base our calculations on the fact that Russian export to Azerbaijan, as well as Azerbaijani export to Russia, almost entirely consist of non-primary non-energy goods."

Mirsayapov stressed that the mutual trade turnover consists of the supplies of hundreds of commodity producers from Azerbaijan and Russia and their number must increase thanks to the implementation of new joint projects soon.

"Of course, the pandemic has made its own adjustments to the plans of businessmen to increase mutual trade turnover between our countries," Mirsayapov added. "As of 11 months, we observed a decrease in Russian-Azerbaijani trade turnover by 11.4 percent amid a decrease in Azerbaijan's trade volumes with all countries by 25.9 percent."

"With regard to bilateral relations, despite a difficult year associated with the pandemic, we did not experience a significant decline in trade. I am sure that we will make up for it all this year," Mirsayapov said.

The activity of the trade office is aimed at developing economic ties between Russia and Azerbaijan, promoting Russian export projects, attracting investments and advanced technologies to the Russian Federation.

The purpose of the mission of the Russian trade mission in Azerbaijan is to create an effective mechanism for promoting the economic interests of the Russian Federation in the world markets.


Follow the author on Twitter: @Fidan_Babaeva