By Ayya Lmahamad
Entrepreneurs from Russia's Nizhniy Novgorod Region are planning
to take part in a business mission to Azerbaijan, slated for
November 3-5, Azernews reports per Russian media.
The participants in the mission will not only hold B2B
negotiations with Azerbaijani companies and meet with government
representatives but will also visit the largest enterprises in the
Industry, Trade, and Entrepreneurship Minister Maksim Cherkasov
stated that Azerbaijan is a popular foreign trade destination for
Nizhny Novgorod companies.
“Thus, last year the volume of non-primary exports to Azerbaijan
almost doubled and amounted to $78.1 million. Nizhny Novgorod
region traditionally exports plywood, medicines, hot-rolled steel,
and wheat,” he said.
The business mission will be organized by the Nizhny Novgorod's
Export Development Center under the“Acceleration of small and
medium-sized business entities” federal project of the“Small and
medium-sized businesses and support for individual entrepreneurial
initiatives” national project.
Azerbaijan and Russia cooperate in different sectors, such as
the 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
Azerbaijan's investments in the Russian economy have exceeded
$1.2 billion, with the lion's share of it 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 the non-oil sectors.
The trade turnover between Azerbaijan and Russia amounted to
$2.9 billion in 2021, making Russia Azerbaijan's third-largest
Ayya Lmahamad is AzerNews' staff journalist, follow her on
Follow us on Twitter
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.