Azerbaijan, Russia’s Sverdlovsk region expanding economic relations

By Trend

Russia’s Sverdlovsk region is an important business partner of Azerbaijan, Azerbaijani Minister of Economy Shahin Mustafayev said.

Mustafayev made the remarks in Baku at the meeting with governor of the Sverdlovsk region Yevgeny Kuyvashev, Trend reports on Sept. 11.

“Azerbaijan is interested in expanding the economic ties with the Sverdlovsk region,” Mustafayev said.

Azerbaijan is the main trading partner of Russia in the South Caucasus, about a half of Russia's trade with the region accounts for Azerbaijan. At the same time, Russia ranks first in the export of non-oil items of Azerbaijan.

As of 2018, the trade turnover between Azerbaijan and the Sverdlovsk region increased by 83 percent up to $95 million. “The trade turnover is expected to be increased up to $100 million in 2019,” the minister said.

Mustafayev added that trade turnover between Russia and Azerbaijan increased by 19 percent up to $2.5 billion in 2018, and by 23 percent in January-July 2019.

In turn, Kuyvashev said that a package of proposals had been prepared following the previous recent meeting. The opportunities in the transport and tourism sectors make the Sverdlovsk region more attractive for doing business, he added.

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