Azernews.Az

Sabina Mammadli

Read more

Russian Prime Minister Mikhail Mishustin signed a resolution on submitting an agreement between Russia and Azerbaijan on cooperation in the field of pensions to the State Duma for ratification, Azernews reports.

The agreement allows Azerbaijani citizens to be credited with their work experience acquired while working in Russia, while Russians will be credited with the work experience they acquired in Azerbaijan.

The said document was signed by the Deputy Prime Ministers of the two countries, co-chairs of the Commission Shahin Mustafayev and Alexey Overchuk during the 20th meeting of the Intergovernmental State Commission on Economic Cooperation on April 26, 2022.

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

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

Additionally, some 14 Russian companies have applied for participation in Azerbaijan's Karabakh reconstruction.

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

--

Follow us on Twitter @AzerNewsAz