(MENAFN- AzerNews)
By Ayya Lmahamad
Russian companies consider increasing supplies to Azerbaijan by
several hundred million dollars, Russia's Trade Representative in
Azerbaijan Ruslan Mirsayapov told reporters during a working trip
to Volgograd, Azernews reports, citing TASS.
He mentioned that last year, the Russian Export Center assessed
such sectors as engineering products, food products, and metal
structures.
“For each of these sectors, Russian companies have the
opportunity to increase supplies to Azerbaijan by several hundred
million dollars,” he said.
Mirsayapov mentioned that 4,000 Russian companies are currently
working with Azerbaijan, of which 2,500 are representatives of
small and medium-sized businesses. He added that according to the
results of 2021, more than $2 billion worth of goods were supplied
to Azerbaijan from Russia.
Azerbaijan and Russia cooperate in different sectors, such as
economy, agriculture, customs, communications, high technology, and
others. Over 230 intergovernmental and intercompany documents have
been signed between the two countries and six 'road maps' are being
implemented.
Azerbaijani investments in the Russian economy have exceeded
$1.2 billion, with the majority of these investments being in the
non-oil sector. In addition, Russian investments in Azerbaijan's
economy totaled $6.3 billion, with $5 billion invested in the oil
sector and $1.3 billion in non-oil sectors.
The trade turnover between Azerbaijan and Russia amounted to
$2.9 billion in 2021, making Russia Azerbaijan's third-largest
partner.
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Ayya Lmahamad is AzerNews' staff journalist, follow her on
Twitter: @AyyaLmahamad
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@AzerNewsAz
- Tags:
- Azerbaijan
- Russia
- investments
- Economy
- Non-oil sector
- oil sector
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