Azeri-Russian trade largely unaffected by global crunch
The trade turnover between Azerbaijan and Russia has
been largely unaffected by the financial crisis that has had a dire
impact on economies around the world. On the contrary, bilateral
trade rose 40% last year in comparison with 2007 to hit $2.4
billion, Yuri Shchedrin, the Russian trade representative in
Azerbaijan, has said.
According to Shchedrin, Russia`s economic relations with the South Caucasus republic will allow it to block the consequences of the financial downturn in both countries.
Shchedrin emphasized that there would be no reduction in Azerbaijani-Russian commodities turnover in 2009 either.
"Russia will maintain its position as Azerbaijan`s largest trade partner this year. According to our projections, bilateral trade turnover will be the same as it was last year, while in the best case-scenario it will make up $2.5 billion."
90 per cent of the goods imported to Azerbaijan from its northern neighbor in 2008 were made up by trucks, cars, raw materials for the chemical industry, and metallurgy products. Also, Russia exported about 706,000 tons of wheat worth $180 million to Azerbaijan last year.
According to Shchedrin, Russia`s economic relations with the South Caucasus republic will allow it to block the consequences of the financial downturn in both countries.
Shchedrin emphasized that there would be no reduction in Azerbaijani-Russian commodities turnover in 2009 either.
"Russia will maintain its position as Azerbaijan`s largest trade partner this year. According to our projections, bilateral trade turnover will be the same as it was last year, while in the best case-scenario it will make up $2.5 billion."
90 per cent of the goods imported to Azerbaijan from its northern neighbor in 2008 were made up by trucks, cars, raw materials for the chemical industry, and metallurgy products. Also, Russia exported about 706,000 tons of wheat worth $180 million to Azerbaijan last year.
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