Baku hosts Azerbaijan-Russia business forum
Baku, October 30 (AZERTAC). An Azerbaijan-Russia business forum took place Monday in Baku Business Center.
The forum was organized by the Economic Development Ministry and Azerbaijan Export and Investment Promotion Foundation (AZPROMO).
The event brought together officials and businessmen operating in industry, construction, agricultural, ICT, and energy spheres.
Speaking at the forum, Azerbaijan`s economic development minister Shahin Mustafayev said President Ilham Aliyev attaches great importance to development of relationship with Russia. He underlined the role of reciprocal visits of presidents of the two countries in development of bilateral relationship. The minister noted favorable conditions exist to boost bilateral economic cooperation even more. Mustafayev said $130 billion had been invested in Azerbaijan`s economy so far, adding about half of this constitutes foreign investments. The minister stressed the role of Azerbaijan-Russia Intergovernmental Commission in development of relations. He added 261 companies with Russian capital were registered in Azerbaijan in 2004-2011. “Russia invested $366 million in Azerbaijan`s economy in 2002-2011. Russian companies also participate in several projects in Azerbaijan as contractors. Over the past 10 years Azerbaijan has invested $563 million in the Russian economy. At present, Azerbaijani companies are successfully operating in Russia.”
The minister pointed out trade turnover between the two countries increased by 47 percent in 2011 in comparison with 2010. He added economic cooperation between Azerbaijan and Russia`s regions were developing as well. “Currently Azerbaijan has cooperation with 71 regions of Russia.”
Rashid Temrezov, head of the Karachay-Cherkess Republic of the Russian Federation, praised the development of Azerbaijani economy. He stressed the importance of relations of Azerbaijani and Russian businessmen in economic cooperation between the two countries.
Head of AZPROMO Rufat Mammadov highlighted business and investment opportunities in Azerbaijan.
Economic development minister of Karachay-Cherkessiya Eldar Tlyabichev made a presentation on investment opportunities in the republic.
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