REC reveals its portfolio volume on support of Russian companies in Azerbaijan
Baku, Azerbaijan, Dec. 25
By Anvar Mammadov – Trend:
The portfolio volume of Russian Export Center (REC) JSC on the support of Russian companies in Azerbaijan amounted to almost $500 million, Head of the REC Group Peter Fradkov said at an opening ceremony of the REC office in Azerbaijan.
“The opening of a representative office in Azerbaijan is very important for the REC, since your country has long become a strategic direction for us,” Fradkov said.
He said that the funds of the REC were allocated for projects in various spheres of the economy, including railway engineering and transport projects, support of investments in Azerbaijan.
“At the same time, we understand that there is much greater potential for cooperation, therefore, the opening of this office shows that we will continue supporting not only large companies, but also small and medium-sized enterprises,” he added.
Azerbaijan’s trade with Russia for eleven months of 2017 amounted to $1.89 billion, $528.97 million of which accounted for the export of Azerbaijani products to Russia, according to the State Customs Committee of Azerbaijan.