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By Trend

Azerbaijan is the most important economic and trade partner for Russia in the South Caucasus, Azerbaijan’s Deputy Economy Minister Niyazi Safarov said.

Safarov made the remark in Baku during the 18th meeting of the intergovernmental commission on economic cooperation between Azerbaijan and Russia, Trend reports on Dec. 9.

According to NIyazi Safarov, Azerbaijan accounts for 45 percent of all Russian trade operations in the South Caucasus.

In turn, the deputy minister noted, Russia ranks first in Azerbaijan’s foreign trade.

The dynamic development of these relations, Safarov noted, is based on the growth of trade in recent years and the increase in investment opportunities between the two countries, as well as the organization of mutual visits at the highest level.

"Azerbaijan highly appreciates the expansion of trade relations with Russia in the field of digitalization of the economy, high technologies and innovations, and the Azerbaijan pavilion at the Exhibition of Achievements of National Economy [in Moscow] will become an important platform contributing to the development of bilateral economic relations," the deputy minister said.

The 18th meeting of the intergovernmental commission on economic cooperation between Azerbaijan and Russia with the participation of deputy ministers of all Azerbaijani ministries, ambassador of Azerbaijan to Russia Polad Bulbuloglu, Russian Minister of Economic Development Maksim Oreshkin and other senior officials is being held in Baku Business Center on Dec. 9.

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