The 10-th sitting of the Azerbaijan-Russia inter-governmental commission on economic cooperation has taken place today. At the sitting opening the chairman of the commission from the Azerbaijan part, the first vice Premier Abbas Abbasov has indicated the notable fact that the sitting of the inter-governmental commission is being held in the framework of the Year of Russia in Azerbaijan and the visit of the Russias President Vladimir Putin to Azerbaijan attaches importance to this event. For the first time leaders of two Russian regions, the authorized representative of Kabardino-Balkaria and the governor of the Stavropol province are involved in the work of the commission.
Speaking of the state and prospects of the trade-economic relations development in the framework of implementation of measures within the program of the long-term economic cooperation between Azerbaijan and Russia till 2010 Abbasov noted, the economic links have intensified considerably and Russia remains to be the major trade partner of Azerbaijan. In 2005 the trade turnover volume between the countries exceeded $1 billion, growing 128,7% by 2004 Р°nd 4,3 times - by 2001. The Russian co-chairman Victor Christenko thinks favourable conditions enabled to reach this point during two years while it has been projected for the five-year period. Essential increase of food and agricultural products is observed in the structure of goods turnover, which has grown by two times during two years. Christenko thinks it is the result of the inter-regional cooperation development.
One of the important lines in bilateral cooperation Abbasov noted setting up of Joint Ventures, representative offices and branches of economic objects. About 400 enterprises and organizations with the Russian capital have been registered in Azerbaijan. Christenko stated readiness to introduce the Russian innovations in production, small energy sectors, to invite Russian companies to participate in building, agricultural an industrial exhibitions. Around 200 representatives from 26 Russian regions are involved in the present business-forum to commence its work tomorrow.