Aleksandr Tsibulski: Russia still one of major trade partners of Azerbaijan

Baku. 1 November. REPORT.AZ/ “Trade turnover was slightly above $1 billion in January-August of this year. But we observe 40% decrease in this year’s indicators. Unfortunately, Russia’s export also reduces”.

Report informs, Deputy minister of economic development of Russian Federation Aleksandr Tsibulski told in the 7th Azerbaijan-Russia Interregional Forum.

He noted that Russia remains as one of major trade partners of Azerbaijan: “Russia is third among Azerbaijan’s major trade partners. Physical indicator of import of Azerbaijani goods was 16.3%. Service turnover totals half a billion US dollars. Russia invested $3 billion into Azerbaijan’s economy. There is potential to increase investments. In general, 600 companies in the country operate with Russian capital.

A.Tsibulski noted Moscow, Tatarstan and Bashkortostan as main trade partners of Azerbaijan among Russian regions. He noted that the important issue between two countries is to create favorable conditions for business organizations.

Deputy minister, informed that the parties organize joint events also in other fields. Thus, there are twinning agreements between number of cities and regions of Azerbaijan and Russia.

“We should not forget humanitarian relations. At present, 14 thousand Azerbaijani students study in Russian universities”, Tsibulski noted.

Talking about the forum, the deputy minister noted it as a valuable tool for development of business relations.