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By Trend

Russia and Azerbaijan are strategic partners, said Russian Foreign Minister Sergey Lavrov addressing a meeting at the ADA University in Baku.

“This year is special for our relations,” said the foreign minister, adding that 25 years ago, Russia and Azerbaijan established diplomatic relations.

“A new stage of relations has begun. Over the past time, we have succeeded not only in preserving, but also in multiplying the traditions of friendship and good neighborliness, and in forming a multi-branch legal base,” noted Lavrov.

This year, Azerbaijan and Russia mark the 25th anniversary of establishment of diplomatic relations. Russia is one of the main economic and trade partners of Azerbaijan. More than 170 documents have been signed between the two countries, including about 50 documents in economy.

Russian investments in the Azerbaijani economy exceeded $3.7 billion over the period of the two countries' cooperation. Entrepreneurs from Azerbaijan invested more than $1 billion in Russia’s economy.

According to Azerbaijan’s Customs Committee, trade turnover with Russia amounted to almost $1.66 billion in January-October 2017, which accounts for 10.35 percent of the total trade of Azerbaijan with other countries. The Azerbaijan-Russia trade turnover rose by almost 8 percent during the year.

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