Russian businessmen keen to establish ties with local partners

7 August 2019 15:00 (UTC+04:00)

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By Mirsaid Ibrahimzade

Local and Russian enterprises and businessmen demonstrate continuous interest in cooperation due to similar business structures, preferential tax and customs regimes and availability of different transport routes which ease logistics issues.

Business people from Tyumen, Russia, who will be in Baku on August 11-16, plan to establish ties with potential partners from Azerbaijan, Russian media reported.

The visit, organized by the Export Support Center of the Tyumen region, will include business meetings and negotiations. It is also planned to visit importing enterprises located in Baku.

The Chamber of Commerce and Industry of the Tyumen Region said in a message that representatives of companies such as Tyumen-Pribor LLC, Tyumen Machine-Building Plant (engaged in production of driven clutch disks for domestic and foreign freight and passenger vehicles), Zhizn company (engaged in peat and sapropel production) and SIBNA company (the latest technologies in the field of commercial accounting of energy resources) will be involved in the negotiations.

Yulia Medvedeva, Deputy Director General of Tyumen-Pribor LLC, said that Azerbaijan is an interesting country for the company, but they haven’t had cooperation with this region yet.

She noted that the company has been working in the of oil and gas services sphere for 17 years, providing a full range of services in the industrial automation of oil, gas, energy and other facilities.

Medvedeva added that they have already selected a number of Azerbaijani enterprises with which it is advisable to discuss issues of cooperation.

“First of all, we are focused on the cooperation in the oil and gas industry,” she noted.

Azerbaijan is one of the main economic partners of Russia among the CIS countries, and Russia remains one of Azerbaijan’s main foreign trade partners. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover. Russia ranks first in terms of export of non-oil products from Azerbaijan.

Azerbaijan Business Center, opened in Astrakhan, Russia, on May 31, 2018, facilitates boosting of business relations between the two countries.

The trade turnover between Azerbaijan and Russia amounted to $2.55 billion in 2018, which is 19.1 percent more than in 2017, according to Azerbaijan’s State Statistics Committee. The share of trade operations with Russia in 2018 accounted for 8.25 percent of the total foreign trade turnover of Azerbaijan.

The total investments by Russian companies in Azerbaijan amount to $4.4 billion, and the Azerbaijani investments in Russia make up $1.2 billion.

Mirsaid Ibrahimzade is AzerNews’ staff journalist, follow him on Twitter: @MirsaidIbrahim1