Azernews.Az

By Ayya Lmahamad

Representatives of Russia's Chuvash Republic arrived in Azerbaijan for a business mission on October 17, Azernews reports.

The delegation consists of representatives of such enterprises as GERVENT RUS LLC, BKR LLC, Waterproofing Technology LLC, Spektr LLC, INCOST JSC.

Russian Export Center’s representative office head in Azerbaijan Nuri Guliyev and Russia’s Trade Representative in Azerbaijan Ruslan Mirsayapov held a meeting with representatives of the business delegation.

During the meeting, Nuri Guliyev and Ruslan Mirsayapov noted that the participating companies have good opportunities and prospects for the development of their products in the Azerbaijani market of the construction industry. They have recommendations for participation in tenders and emphasized the importance of participation in specialized exhibitions held in Azerbaijan.

The members of the delegation will present their products at the collective stand of the Chuvash Republic at the BakuBuild International Construction Exhibitions, which will be held from October 19-21 at the Baku Expo Center.

In the next few days, the participants of the business mission expect a large number of individual negotiations with Azerbaijani companies and B2B meetings within the framework of the international exhibition.

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 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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