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Azerbaijani exporters to receive support for their products’ recognition in Russia

5 October 2018 11:32 (UTC+04:00)
Azerbaijani exporters to receive support for their products’ recognition in Russia

By Sara Israfilbayova

Azerbaijani exporters will be given all possible support for the recognition of their products in the Russian market and increasing their sales.

Chairman of the Azerbaijan-Russia Business Council Samad Gurbanov made the remarks at a regular meeting of the Azerbaijan-Russia Business Council at the Baku Business Center on October 4.

The event was attended by about 40 entrepreneurs and representatives of companies operating in the spheres of food industry, agriculture, construction, logistics and other fields.

Gurbanov said that this meeting is being held as continuation of the expanded meeting of the Azerbaijan-Russia and Russia-Azerbaijan business councils as part of the 9th Azerbaijan-Russia Interregional Forum held on September 27.

This meeting of the Azerbaijan-Russia Business Council with exporters was held considering applications and proposals of entrepreneurs related to the expansion of trade and economic relations between the businessmen of both countries, as well as the export of Azerbaijani products to the Russian market.

Azerbaijan is one of the main economic partners of Russia among the CIS countries. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover.

Russia has been included in the list of Azerbaijan’s five largest trade partners in January-June 2018 with the volume of trade turnover of $ 1.14 billion (8.54 percent of the total volume of trade turnover).

Azerbaijan invested more than $1 billion in the Russian economy, and Russia invested about $4 billion in the economy of Azerbaijan.

The trade turnover between the states amounted to $1.3 billion in January-July 2018, according to State Customs Committee of Azerbaijan. Russia accounts for 7.89 percent of the total foreign trade turnover of Azerbaijan.

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Sara Israfilbayova is AzerNews’ staff journalist, follow her on Twitter: @Sara_999Is

Follow us on Twitter @AzerNewsAz

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