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    Ambassador: Economic ties of Azerbaijan and Russia were able to resist changes in world economy

    Russia and Azerbaijan in the first place cooperate in non oil sector

    Baku. 25 November. REPORT.AZ/ Economic relations between Azerbaijan and Russia were able to resist changes in world economy which, as you know, is going through hard times". Report informs it was stated by Russian Ambassador to Azerbaijan Vladimir Dorokhin in an interview for the magazine "World of Diplomacy" («Diplomatiya Aləmi»).

    According to him, the trade turnover between Russia and Azerbaijan as of year-end 2014 increased by more than 12% and reached, according to the Russian statistics, the historical maximum of 4 bln USD.

    "The positive trend continues this year.The reason for this lies in the fact that Russia and Azerbaijan cooperate primarily in the non-oil sector, which is less affected by price hikes for energy resources", said the ambassador.

    According to V. Dorokhin, Russia is the number one partner for Azerbaijan in non-oil sector.

    The ambassador also noted the growth of mutual investments and activization of interbank cooperation between the two countries, recalling that in June, "Gazprombank" has provided a loan to finance the construction of production plants in Azerbaijan, polypropylene and high density polyethylene in the amount of 489 mln USD, "Sberbank" opened a credit line for the production of methanol by Azerbaijani producers in Russia worth 1.2 bln USD.

    The ambassador said that the amount of capital from Azerbaijan to Russia made almost 1 bln USD. "On the one hand, this once again demonstrates the potential of Azerbaijan as a partner. And on the other - says about trust that has developed between the business circles of two countries ", said Vladimir Dorokhin.

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