ECONOMY


Trade between Azerbaijan and Russia increased by 20 percent, economy minister

Baku, July 25, AZERTAC

“Trade between Azerbaijan and Russia grew by 20 percent,” said Azerbaijani Minister of Economy Shahin Mustafayev as he met with Minister of Economic Development of the Russian Federation,co-chairman of the joint intergovernmental commission Maxim Oreshkin in Moscow.

Mustafayev stressed that relations between the two countries are at a strategic level and are successfully developing in all areas, including economicand trade ones.

The minister said that Russia is one of the main trade partners of Azerbaijan, adding that the trade between the countries increased by 22 percent in 2017.“The dynamics of trade relations continued in the first half of 2018, and the trade between the countries for this period increased by 20 percent.”

Minister Mustafayev also emphasized the organization of export missions which are aimed at promoting the “Made in Azerbaijan” brand and expanding export to Russia. He described theopening of an office of Russian Export Center (REC) in Baku in 2017 as an important step towards expanding trade relations between Russia and Azerbaijan.

Oreshkin emphasized that the presidents of both countries attach great importance to expanding bilateral cooperation betweenthe two countries. He pointed to the high potential for developing trade and economic relations.

The sides also touched upon the issues related to the 9th Russian-Azerbaijani interregional forum to be held in September.

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