Russia and Azerbaijan are strengthening economic cooperation

At the 22nd session of the intergovernmental commission for economic cooperation between Russia and Azerbaijan held in Baku, key aspects of bilateral cooperation between the countries were discussed.

Russian Deputy Prime Minister Alexey Overchuk and Azerbaijani Deputy Prime Minister Shahin Mustafayev summarized the results of cooperation in various fields, including trade, transport, energy, agriculture and culture.

“Thanks to the political will and trust relations of the presidents of Azerbaijan and Russia, interstate relations are gradually being strengthened in a spirit of strategic partnership and mutually beneficial cooperation,” reads the statement.

Russia continues to be one of the major economic partners of Azerbaijan, occupying the third place in the republic’s foreign trade. Over the past year, mutual trade turnover has significantly increased, including due to the increase in payments in national currency. Investment cooperation is actively developing. Russia is one of the largest investors in the Azerbaijani economy.