Azernews.Az

By Amina Nazarli

Azerbaijan and Russia will view opportunities in the economic sphere as the two sides’ business circles will meet at the 7th joint regional forum in Baku.

To be attended by representatives of the Presidential Administration, heads of Russian regions, representatives of executive and legislative authorities, business community and NGOs, the event is scheduled for October 31-November 1.

Alexey Ulyukayev, Minister of Economic Development of Russia will also visit Azerbaijan to participate in the forum.

However, the final composition of the Russian delegation is still being formed, according to Assistant to Minister Elena Lashkina.

“The forum will discuss issues of bilateral trade and economic cooperation, inter-regional and cross-border cooperation, as well as cooperation in tourism, agriculture, humanitarian sphere, and strategic cooperation between Russia and Azerbaijan,” she said, adding that following the event the sides plans to sign a number of bilateral regional agreements.

The trade turnover with Russia in January-September 2016 reached $1.35 billion, some $251.6 million of which fell to export to Russia, according to the Azerbaijani State Customs Committee.

Russian-Azerbaijani partnership is regarded as an important factor of regional stability.

The relations between the two countries more developed in recent years and have reached the strategic partnership level, which are based on old traditions of friendship and good neighborliness, as well as equality, respect for each other's interests, and common history and culture.

Azerbaijan ranks fifth in Russia's foreign trade with the CIS countries (following Belarus, Kazakhstan, Ukraine and Uzbekistan). At the same time, Russia is also considered to be a leading importer of Azerbaijani goods. Some 600 Russian companies are operating in Azerbaijan.

--

Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

Follow us on Twitter @AzerNewsAz