Azernews.Az

By Ayya Lmahamad

Entrepreneurs of Russia's Tomsk region are planning a business mission to Azerbaijan, Azernews reports.

Companies from Tomsk region are going to showcase their products during a business mission to Baku from September 26 to 28. In this regard, small and medium-sized entrepreneurs will present medical equipment, wood processing products, equipment and materials for water treatment, eco-friendly veterinary medication, and fertilizers.

Moreover, the delegation will hold meetings in the Russian Trade Representative Office in Azerbaijan and the representative office of the Russian Export Center. B2B negotiations with Azerbaijani companies and visits to specialized enterprises are also planned.

To note, the business mission is organized by the Export Support Center of Tomsk region with the assistance of the regional department of innovation and business development, the Russian Economic Development Ministry, and the Russian Export Center as part of the national project “small and medium-sized businesses and support for individual entrepreneurial initiatives”.

Azerbaijan and Russia cooperate in different sectors, such as economy, agriculture, customs, communications, high technology, and others. Over 230 intergovernmental and intercompany documents have been signed between the two countries and six "road maps" are being implemented.

Azerbaijan's investments in the Russian economy have exceeded $1.2 billion, with the majority of the investments being in the non-oil sector. In addition, Russian investments in Azerbaijan's economy totaled $6.3 billion with $5 billion in the oil sector and $1.3 billion in the non-oil sectors.

The trade turnover between Azerbaijan and Russia amounted to $2.9 billion in 2021, making Russia Azerbaijan’s third-largest partner.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

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