Baku, March 7, AZERTAC
Azerbaijan’s Minister of Economy Mikayil Jabbarov has met with visiting Minister of Economic Development of the Russian Federation Maxim Reshetnikov to discuss existing issues of economic and trade cooperation.
Minister Mikayil Jabbarov emphasized that Azerbaijan attaches significance to developing economic relations with Russia, sharing his views on 260 documents inked between the two countries, which created a solid legal basis for comprehensive expansion of relations.
Mentioning dynamically growing trade turnover with Russia, Azerbaijan's largest partner in non-oil exports, Mikayil Jabbarov added that in 2023, the trade turnover with Russia reached 4.5 billion US dollars, an increase by 17 percent compared to 2022. He described the Azerbaijan-Russia and Russia-Azerbaijan business councils as a principal platform for establishing mutually beneficial cooperation between business communities.
Providing an insight into the inclusive business environment created across the country, Minister Mikayil Jabbarov noted that Russian entrepreneurs could benefit from the business opportunities offered in the industrial zones, including Alat Free Economic Zone and in Azerbaijan’s liberated lands. He also outlined the potential for the development of partnership with Russia in trade, transport, industry, tourism, environmental protection, agriculture, customs and other realms.
Russian Minister Maxim Reshetnikov, in turn, lauded the indicators of fruitful cooperation with Azerbaijan in various sectors of economy, including the growing trend of mutual trade, joint production and other areas. Highlighting the joint projects in the non-oil industry successfully implemented between the two countries, he underscored that meetings and events arranged regularly between the delegations play a pivotal role in reinforcing relations. Maxim Reshetnikov shared his thoughts on the possibilities of developing partnership and initiatives in this field.
The two also exchanged views on implementation of the roadmap on the development of key areas of Azerbaijani-Russian cooperation. Issues on trade, transport, strengthening relations between the business communities, defining new areas for cooperation and other realms were also in focus of the meeting.