14 Russian companies apply for operation in liberated Azerbaijani territories

Fourteen Russian companies have applied for operation in the liberated Azerbaijani territories, Deputy Economy Minister Niyazi Safarov said at the Azerbaijan & Udmurtia business forum in Baku, Report informs.

Safarov noted that the Russian market is traditionally important for Azerbaijan.

From 1995 to 2021, Russia invested $5 billion in the oil sector and $1.3 billion in the non-oil sector of Azerbaijan.

In 2021, the trade turnover between the two countries amounted to $3 billion. In 2021, exports surged by 30%, and imports grew by 6%.

In general, more than 1,000 Russian companies are represented in the Azerbaijani market.