For last 10 years Azerbaijan business invested $570 million in Russia, making country a net donor of Russian economy
Baku, Fineko/abc.az. Baku is hosting the third interregional forum "Russian-Azerbaijani dialogue - 2012".
Minister of Economic Development Shahin Mustafayev of Azerbaijan has stated at the forum that over the last 10 years Azerbaijani businessmen have invested $570 million in the economy of Russia.
"At that, since 2004 Azerbaijan registered 262 Russian enterprises which have invested $400 million in the Azerbaijani economy," the minister added.
Nevertheless, the two countries still have not an agreement on encouragement and bilateral protection of investments.
"Azerbaijan has organized partnership with 70 out of the 83 subjects of the Russian Federation," Mustafayev emphasized.
The development of ties between Azerbaijan and Russia, he said, has been brought to the level of strategic partnership.
"Our countries created a powerful legal base, which serves to strengthen trade and economic relations. So far the two countries have concluded more than 100 such documents. They apply free trade regime, and last year Russia ranked third among the Azerbaijan’s foreign trade partners," the minister concluded.
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