Today Azerbaijani Minister of Economic Development Shahin Mustafayev said at a meeting with Governor of the Volgograd region of Russia Sergey Bozhenov in Baku that over the past ten years Azerbaijan has lend about $563 million to the Russian economy.
“Azerbaijani companies are successfully operating in Russia, as well as Russian companies in Azerbaijan,” the minister said. “Around 261 companies with Russian capital were registered in Azerbaijan in 2004-2011.”
Azerbaijani sources report that the minister highlighted special importance of mutual official visits of the presidents, as the country is working with more than 70 regions of Russia.
“Azerbaijan and Russia formed a perfect legal framework,” Mustafayev said.
For the last year the trade exchange of the two countries totaled to 2.8 billion dollar, or by 47 percent more compared to 2010.
Governor of the Volgograd region Sergey Bozhenov stressed the great potential for elaborating the economic relations between countries in general.
The issues to develop the economic cooperation between Azerbaijan and Russia, extent the trade relations, mutual investments, further development of cooperation between business people were discussed.