Azerbaijan’s Economy Minister: Russia is our key nonoil exporter

16:06 - 25.12.2017


December 25, Fineko/abc.az. Today Baku is hosting a joint extended meeting of the Azerbaijan-Russia and Russia-Azerbaijan Business Councils.

During the meeting Economy Minister Shahin Mustafayev of Azerbaijan has stated that economic links existing between Azerbaijan and Russia currently do not reflect the real potential.

"There are great opportunities for development of these relationships, given the interest of both parties. Links between the two countries are developing in all directions. As for economic ties, bipartite trade turnover is steadily growing and it should be noted that Russia is one of the strategic economic partners of Azerbaijan. By the end of 2017 Russia is holding the 3rd place among the external economic partners, the 1st place on import and the 1st place on nonoil exports. We also consider its expedient to use the new mechanisms and instruments for enhancing economic relations," Mustafayev emphasized.

In his turn, Economic Development Minister Maxim Oreshkin stated that Russian companies’ investments in Azerbaijani economy have reached $1.5 bn, and Azerbaijani companies are also inginvest actively in the Russian economy.

"There is great potential for expanding our states’ economic relations,” Oreshkin said.

 

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