Baku hosts 22nd meeting of Azerbaijan-Russia Intergovernmental Commission on economic cooperation
Baku, August 9, AZERTAC
The 22nd meeting of the Intergovernmental Commission on economic cooperation between the Republic of Azerbaijan and the Russian Federation was held in Baku.
Chaired by Shahin Mustafayev, Deputy Prime Minister of the Republic of Azerbaijan, and Alexei Overchuk, Deputy Prime Minister of the Russian Federation, the meeting was attended by heads of relevant state structures from both countries.
During the meeting, the sides expressed satisfaction with the comprehensive development of Azerbaijan-Russia relations, which are based on centuries-old traditions of friendship and good neighborliness.
The political will and trust-based relationship between the presidents of both countries were highlighted as key factors in strengthening intergovernmental relations in a spirit of strategic partnership and mutually beneficial cooperation.
The parties stressed that the multifaceted strategic partnership is supported by a strong legal foundation of over 260 signed agreements, with the Declaration on allied interaction from February 22, 2022, being particularly significant.
Russia is Azerbaijan's third-largest trade partner and the top partner for non-oil exports. In 2023, trade turnover increased by 17.5 percent, reaching a record level of approximately 4.4 billion US dollars.
The positive growth in investment cooperation was also acknowledged, with Russian businesses well-represented in several sectors of Azerbaijan's economy and Azerbaijani companies actively investing in the Russian economy.
Agricultural cooperation is thriving, with Azerbaijan ranking among the top ten suppliers of agricultural products to Russia. In 2023, exports of fruits and vegetables to Russia increased by approximately 9%.
Both sides emphasized the importance of developing cooperation in transport and transit sectors. The total volume of bilateral freight transport increased by more than 10% last year.
Both parties confirmed their mutual readiness to continue working on the implementation of the tasks set by presidents of Azerbaijan and Russia concerning the development of the North-South International Transport Corridor.
The oil and gas sector remains a critical area of bilateral cooperation, and Russia holds a leading position in the tourism sector regarding the number of tourists visiting Azerbaijan.
Humanitarian cooperation continues to be a key aspect of Azerbaijan-Russia relations, with cultural, scientific, and youth exchanges intensifying.
Interregional cooperation is highly valued, with regular high-level visits between regions of Azerbaijan and federal subjects of Russia.
The meeting concluded with a discussion on future bilateral relations, reaffirming a commitment to constructive dialogue on mutual interests.
The meeting's outcomes were formalized in a Protocol signed by Shahin Mustafayev and Alexei Overchuk.
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