Russia ‘is one of Azerbaijan’s main trade partners’

Baku, April 15 (AzerTAc). “Russia is one of the main trade partners of Azerbaijan,’ said Azerbaijani Minister of Economy and Industry Shahin Mustafayev as he met governor of Russia`s Ulyanovsk Region Sergei Morozov. The Minister noted Azerbaijan attaches particular emphasis to improving its relations with Russia and its federal subjects. He said political relations between Azerbaijan and Russia had reached the level of strategic partnership. Mr. Mustafayev hailed the existing legal framework for cooperation, saying the two countries have signed more than 160 documents in a variety of areas, including 30 documents covering economy. He hailed the role of the Intergovernmental Commission, saying it was making an important contribution to developing the economic ties. Mr. Mustafayev also praised trade relations between the two countries. “There are 570 companies with the Russian capital in Azerbaijan. And Azerbaijani companies are successfully operating in many regions in Russia. Russia has invested $628 mln in Azerbaijan recently, while in the last decade Azerbaijan’s investments in the Russian economy are estimated to be more than $1 bln.” The Minister praised humanitarian cooperation between Azerbaijan and Ulyanovsk Region. “A middle school was completely repaired in Ulyanovsk with support of the Heydar Aliyev Foundation.” Governor Morozov said both Russia and Azerbaijan had big potential to develop their cooperation on a variety of fronts. He praised Azerbaijan`s cooperation with Russia’s federal subjects, including Ulyanovsk.