(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 17. Azerbaijan andRussia's Tatarstan have discussed the expansion of potential topromote investments, Trend reports.
According to the Ministry of Economy of Azerbaijan, thecountry's Minister of Economy Mikayil Jabbarov held a meeting withDeputy Prime Minister, Minister of Industry and Trade of Russia'sTatarstan Oleg Korobchenko visiting the country.
The parties discussed the developmental directions of theeconomic partnership between Azerbaijan and Tatarstan, supportingjoint activities within the framework of industrial parks,expanding the utilization of existing potential to promoteinvestments, and strengthening trade relations.
Then the 4th meeting of the Joint Intergovernmental Commissionon Trade, Economic, Scientific, Technical, and Cultural Cooperationbetween Azerbaijan and Tatarstan took place.
The meeting pointed out the successful development of bilateralrelations between Azerbaijan and Russia, including the multifacetedexpansion of strong friendly and fraternal relations withTatarstan, emphasized an important role of trade and economiccooperation in the bilateral partnership, and the parties' greatpotential to increase trade turnover.
Cooperation in industrial zones and establishment of jointproduction were noted as another promising direction forpartnership development.
Moreover, significant prospects in the fields of arts,education, including student exchange programs were discussed.
The meeting noted that within the concepts of Smart City andSmart Village, extensive reconstruction efforts are underway in theliberated territories of Karabakh and Eastern Zangazur. Allprojects are implemented based on advanced technologies andstandards, and Karabakh, Eastern Zangazur, and Nakhchivan aredeclared as a green energy zone with special attention paid to theuse of alternative energy sources in these territories.
The ministry stressed that the parties discussed the prioritiesof bilateral cooperation, prospects for developing ties in thefields of trade, transport, logistics, energy, agriculture,tourism, construction, industry, innovation, SMEs, and humanitarianactivities, and companies from Tatarstan were invited to takeadvantage of the favorable investment climate created inAzerbaijan.
At the end of the 4th meeting of the Joint IntergovernmentalCommission, the co-chairs signed the final protocol.
The ministry also noted that as part of the visit to Azerbaijan,the Tatar delegation visited the Alat Free Economic Zone (FEZ) andgot acquainted with the activities and conditions createdthere.
Additionally, business meetings are planned to be held atAzerbaijan's Economic Zones Development Agency and the Export andInvestment Promotion Agency (AZPROMO), as well as the Baku SMEHouse.
To note, Russia is one of Azerbaijan's primary trading partners and commercial links between the countries are steadilyimproving. Bilateral trade is increasing steadily. In 2023, tradevolume between the countries reached a new high of about $4.4billion.
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