Volume of capital flow from Azerbaijan to Russia tops $1 billion

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Baku, November 24, AZERTAC 

“Azerbaijani capital is actively entering the Russian market, with the State Oil Fund, Azersun-Holding Group of Companies and Matanat-A company being the leaders,” Russian Ambassador to Azerbaijan Vladimir Dorokhin said in an interview to World of Diplomacy magazine.

Asked about the economic relations between Russia and Azerbaijan, Dorokhin said: “At a first glance it seems incredible, but the volume of capital from Azerbaijan to Russia makes almost 1 billion US dollars, and that is more than invested by Russians in Azerbaijan. On the one hand, this is indicative of the value of Azerbaijan as a partner. And on the other hand it reaffirms the trust that has developed between the business circles of the two countries. As we know, confidence is crucial in the business, especially in our times.”

According to the Russian Ambassador, this year in April Russian largest truck manufacturer KamAZ started assembling cars at Azerbaijan’s Ganja Automobile Plant. “We have plans for joint production of cars and other equipment. And this is a completely different level of cooperation. Not just the exchange of goods, but production cooperation, which involves the convergence and orientation at each other over the long term. Such development of cooperation with Azerbaijan fully meets the interests of Russia,” said the Russian Ambassador.

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