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Preliminary Date of Meeting of Azerbaijani-Russian Inter-Governmental Economic Co-operation Commission Confirmed

Business Materials 7 March 2007 20:14 (UTC +04:00)

Azerbaijan, Baku / corr. Trend I.Khalilova / The Trade Representative of Russia to Azerbaijan, Yuri Shedrin, said that the 11th meeting of the Azerbaijani-Russian Inter-Governmental Economic Co-operation Commission has been scheduled for 24 April in Moscow.

According to him, the Russian side has offered this date, but the proposals of the Azerbaijani side have not been presented.

"Presently it is important to establish co-operation between Azerbaijan and Russia in the non-oil sector, which will also allow covering the deficit in the trade turnover between the two countries caused by the termination of the delivery of the Russian gas to Azerbaijan," Shedrin said.

The trade turnover between the two countries amounted to $1.5 bln in 2006. In 2007 the range of the trade turnover in amount of $2 bln imposed by the Heads of Azerbaijan and Russia will be impossible to be implemented because terminating the gas delivery from Russia to Azerbaijan will take out nearly $500 mln from the trade turnover.

The Cabinet of Ministers of Azerbaijan expects to receive proposals from the Russian side on the agenda of the meeting until the mid of March and after this, the concluding date of the meeting will be defined.

"We are interested in increasing the trade turnover between the two counties, but the recession in the growth rates took place through the fault of the Russian side and therefore, it is important to agree up on the positions although the economic relations between Azerbaijan and Russia are developing," stated in the Cabinet of Ministers.

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