AZPROMO, Ingushetia boost trade co-op
By Nazrin Gadimova
Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and Economic Development Ministry of the Republic of Ingushetia signed memorandum of intent on June 23.
The document was signed during a round table on "Cooperation in the field of investments. Results, Opportunities and Prospects", held within the framework of the 5th Azerbaijani-Russian interregional forum, which is underway in Gabala.
The meeting discussed the possibility of further expansion of cooperation in the energy sphere, as well as featured presentations on energy systems and prospects of their development.
Different roundtables on humanitarian, energy and transport topics were also organized at the forum. Representatives of Azerbaijan's SOCAR, "Azerenergy" JSC, "Bakielektrikshebeke" OJSC, "Azneftkimyamash" OJSC and Russian BT SVAP LLC, "Izhmetmash" CJSC and Gazprombank participated at the roundtable on energy cooperation.
Azerbaijan and Russia are expected to sign a number of documents within the framework of the forum.
Russia is the main trade partner of Azerbaijan in the CIS. Over the past ten years, the volume of Azerbaijan's investment in Russia's economy amounted to around $1 billion, $200 million of which fell on 2013.
About 570 Russian companies are operating in the country, and over $628 million was invested in fixed capital.