Azernews.Az

By Mirsaid Ibrahimzade

Local and Russian entrepreneurs show constant interest in cooperation due to similar business structures, preferential tax and customs regimes and accessibility of various transport routes, which simplify logistics issues.

Four companies from Bryansk Oblast of Russia have demonstrated their potential in Baku. In the framework of the business mission of Russian entrepreneurs, the companies Bryansk Gourmet Factory, Russkaya Bronya, Lessorb and Epatazh advertising agency arrived in Azerbaijan.

Russkaya Bronya offered a wide range of equipment for the food industry, mainly made of stainless steel. Bryansk Gourmet Factory manufactures baby food and is interested in supplying its products to the Azerbaijani market.

Meanwhile, Lessorb company is aimed at cooperation in the oil and gas sector of Azerbaijan. The company produces equipment for the liquidation of oil and oil products spills, including auxiliary equipment (watercraft, equipment for installing booms, information and technological tools for oil spills, etc.).

In general, representatives of more than 30 Russian companies operating in various sectors of the economy arrived in Baku on August 29. During the visit, companies from seven regions of Russia (Kirov, Kostroma, Saratov, Ryazan, Vladimir, Moscow and Bryansk) present their potential.

The mission is organized by the Association of Small and Medium Exporters of Russia and the Russian Export Center.

The business mission to Azerbaijan is a pilot project. Its main goal is to combine the practical potential of the regions with the capabilities of the Russian Export Center.

The Association of Small and Medium Exporters of Russia is a non-profit professional association of Russian and Eurasian Economic Union’s exporting manufacturers and service providers seeking to promote their goods and services on international markets.

The Russian Export Center is state-owned development institute, which offers a wide range of financial and non-financial support tools to help the Russian exporters explore the foreign markets and build capacity in the global trade.

Azerbaijan is one of the main economic partners of Russia among the CIS countries, and Russia remains one of Azerbaijan’s main foreign trade partners. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover. Russia ranks first in terms of export of non-oil products from Azerbaijan.

The trade turnover between Azerbaijan and Russia amounted to $2.55 billion in 2018, which is 19.1 percent more than in 2017, according to Azerbaijan’s State Statistics Committee. The share of trade operations with Russia in 2018 accounted for 8.25 percent of the total foreign trade turnover of Azerbaijan.

The total investments by Russian companies in Azerbaijan amount to $4.4 billion, and the Azerbaijani investments in Russia make up $1.2 billion.

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Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1

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