(MENAFN- AzerNews)
By Ayya Lmahamad
The trade representative office of Russia's Penza region is
planning to organize a business mission for entrepreneurs to
Azerbaijan, Azernews reports, citing day.az.
'A business mission of Russia's Penza region enterprises to
Azerbaijan is expected to take place in 2023 with the support of
the trade representative office,' the statement reads.
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.
Azerbaijan's investments in the Russian economy have exceeded
$1.2 billion, with the majority of the investments being in the
non-oil sector. In addition, Russian investments in Azerbaijan's
economy totaled $6.3 billion with $5 billion 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
- Economy
- expansion of relations
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