16:16 - 28.09.2018

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September 28, Fineko/abc.az. Inter-regional relations are the most important component of inter-state links between Azerbaijan and Russia and with about 70 oblasts of the Russian Federation are working closely with the districts of Azerbaijan.

During the opening ceremony of the 9th Azerbaijan-Russia Interregional Forum the Russian president stated that the leaders on such cooperation with Azerbaijan are not only Moscow, Moscow Oblast, and St. Petersburg, but also Stavropol, Krasnodar Krai, the Astrakhan, Nizhny Novgorod, Chelyabinsk, Volgograd, Saratov, Sverdlovsk Oblasts.

"Speaking about ties between Russia and Azerbaijan, I’d like to underline that relationships between our states are certainly built on the principles of good neighborliness and mutual respect. We always look for a balance of interests and find it. About 700 joint companies with Russian participation are already operating in the Azerbaijani market, and Russia’s total direct investments in Azerbaijan have exceeded $1.5 bn. The Russian-Azerbaijani Business Council also renders great assistance in establishing mutually beneficial business contacts. Last year alone, the Council supported 42 joint projects worth about $500 million," President Putin said.

According to the Russian president, Russian energy corporations are also successfully operating in Azerbaijan. Rosneft jointly with the State Oil Company of Azerbaijan (Socar) will soon start exploration and development of oil & gas field Goshadash. Russia’s LUKoil has invested about $4 bn in energy projects of Azerbaijan, while Transneft ensures reliable transit of Azerbaijani oil for export via Baku-Novorossiysk oil pipeline.

"We see good opportunities for deepening cooperation in the automobile industry. This matter has already been raised today. KamAz has started its work. Technical assembly and maintenance of cars is underway at the Azerbaijani-Russian joint factory. AvtoVAZ has created a wide retail network for sale of Lada cars in all districts of Azerbaijan, and more than 40 such branches have been created around the country," President Putin said.

The Russian President said the investors from Azerbaijan are involved in the construction of agricultural facilities in Russia. In 2017, the supply of Azerbaijan’s agricultural products to Russia increased almost by 12%. Ourpartnersareshowingincreasedinterestinthisarea.

"We expect Russian and Azerbaijani companies will implement actively promising projects in the Caspian region, primarily in the field of transport, cargo transportation, oil and gas production, ecology and, of course, the preservation of bioresources and biodiversity of the Caspian Sea. Bilateral contacts in the field of tourism are developing intensively," President Putin said.