(MENAFN- AzerNews)
By Ayya Lmahamad
Azerbaijan and Russia's Krasnodar region have discussed the
development of trade and economic partnership, Azernews
reports.
The discussion took place during a business meeting held between
the entrepreneurs from Azerbaijan and Russia's Krasnodar region.
The meeting, organized by Azerbaijan's Export and Investment
Promotion Agency (AZPROMO), was attended by entrepreneurs from both
countries working in agriculture, the food industry, ICT,
construction, trade, packaging, etc.
The meeting presented information about the favorable business
and investment environment created in Azerbaijan.
Emphasizing the importance of expanding ties between the
business circles of both countries and the existing potential in
mentioned areas, the participants noted the contribution of
business meetings to the development of bilateral relations. In
addition, they exchanged views about the relations between the two
countries' business communities, and entrepreneurs from both
countries made presentations.
The event continued in the format of bilateral meetings between
entrepreneurs.
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
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