Azernews.Az

By Leman Mammadova

The entrepreneurs of Russia’s Sverdlovsk region are interested in further building of trade and economic ties with partners in Azerbaijan.

Azerbaijan and Russia strengthen mutual cooperation and aim to increase mutual investments, said Rufat Mammadov, Deputy Minister of Economy of Azerbaijan, at the Azerbaijani-Russian business forum held in Baku on September 12.

The event, held within the visit of Russia’s Sverdlovsk region’s delegation, was attended by more than 120 businessmen from both sides in industry, transport and logistics, agriculture, construction, education, healthcare, information and communication technologies etc.

Mammadov noted that Russia has invested about $4.7 billion in Azerbaijani economy. In turn, Azerbaijan's investments in Russian economy totaled $1.2 billion.

The trade turnover between Russia and Azerbaijan increased by 19 percent in 2018 totaling $2.5 billion. In addition, trade turnover between Azerbaijan and the Sverdlovsk region increased by 83 percent in 2018 and amounted to $95 million.

“This year it is planned to increase trade to $100 million,” Mammadov said.

Referring to the strategic relations between Azerbaijan and Russia, he stressed that both countries are interested in further deepening bilateral ties in all areas of the economy, trade, education etc. “This is also confirmed by numerous cooperation agreements between the two countries.”

Mammadov added that the cooperation with federal subjects of Russia, including Sverdlovsk region, is important for the development of economic relations. “The documents signed between Sverdlovsk region and Azerbaijan on September 11 cover different areas.”

In turn, Vasily Kozlov, Minister of International and Foreign Economic Relations of the Sverdlovsk Region, said that the ministry plans to organize a number of industry business missions to Azerbaijan in 2020.

He said the missions will include entrepreneurs in the chemical industry, information technology, etc.

“At the same time, the Sverdlovsk region is ready to attract specialists from Azerbaijan to high-tech operations in various fields of production,” he added.

On the sidelines of the forum, Kozlov said that Sverdlovsk is the second largest region in Russia in terms of the development of non-energy exports. “We have big plans to increase the economy, we are developing and intend to further strengthen cooperation in the business sphere with partners in Azerbaijan. We plan to invite all businessmen of Azerbaijan who want to work in Russia.”

He also noted that the Sverdlovsk region is ready to supply medical equipment to Azerbaijan. “We hope to establish cooperation in the field of equipment supply.”

As part of the business forum, Wine Manufacturers and Exporters Association of Azerbaijan inked a memorandum of cooperation with VINAZ LLC of the Sverdlovsk region. In addition, a memorandum of understanding was signed between the Fruit and Vegetable Producers and Exporters Association of Azerbaijan and the TEN group of companies of the Sverdlovsk region.

Later, bilateral meetings were held between the entrepreneurs of the two countries.

Today, about 50 percent of Russia's trade with the countries of the region accounts for Azerbaijan. Russia is the leader in the import of Azerbaijan’s non-oil products. About 700 companies with Russian capital are operating in Azerbaijan.

As part of the visit of the delegation to Baku, Ural Federal University named after Boris Yeltsin and Baku State University signed a memorandum of cooperation on September 11. Another cooperation agreement was signed between the Ural Federal University and the Azerbaijan University of Languages.

Azerbaijan and the Sverdlovsk region of Russia are currently negotiating creation of a joint venture (JV) for the cranes production. Moreover, negotiations for opening a logistics center of Azerbaijan near Yekaterinburg in Russia are currently underway.

Azerbaijan exported 555,000 tons of fruits and vegetables to Russia in 2018. This year, it is planned to double the export volumes, and the creation of a logistics center will contribute to this goal.

---

Leman Mammadova is AzerNews’ staff journalist, follow her on Twitter: @leman_888

Follow us on Twitter @AzerNewsAz