Azerbaijan, Russia to sign three agreements

The Azerbaijan-Russia business forum will be held as part of the visit of the Russian Minister of Industry and Trade Denis Manturov to Azerbaijan on April 4.

Report informs referring to governmental sources that three documents are expected to be signed within the business forum. Sumgayit Technologies Park and Rostselmash – an agricultural equipment company - will sign a contract on cooperation and building of relations, AzOkso and ServiceInvest – memorandum of understanding on building of fencing system, and AzOkso and State Motor Road Agency – contract.

Russia has invested nearly $4.2 billion in Azerbaijan’s economy so far, while Azerbaijan invested more than $1 billion in Russia’s economy.

Currently, more than 450 joint ventures with Russian capital and nearly 300 companies 100% owned by Russia operate in Azerbaijan.

According to the State Customs Committee, the trade turnover between the two countries rose by 4% year-on-year to $340.5 million.