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Azerbaijan, Russia boost cargo transportation

31 March 2022 12:15 (UTC+04:00)
Azerbaijan, Russia boost cargo transportation

By Ayya Lmahamad

The average daily cargo transportation volume from Russia to Azerbaijan via railway, as well as the volume which is transited through Azerbaijan, has increased by 20.9 percent, local media reported with the reference to the Russian media.

“We are reorganizing logistics amid the closure of cargo transportation with Finland,” the Russian Railways JSC stated.

At the same time, Russia increased in average daily cargo transportation volume by 11.1 percent through the Naushki border station with Mongolia, by 2.2 times through Kazakhstan to China and by almost twice to Belarus and through its territory.

It should be noted that the shipment of goods from Russia to Finland has stopped since March 26. Finland’s VR Group railway company has stopped passenger transportation between Finland and Russia via Allegro trains since March 28. VR Group announced the termination of cooperation with Russian Railways JSC on March 1, except for the cooperation required for cross-border transportation.

Azerbaijan and Russia have mutual cooperation in different fields, such as economy, agriculture, customs, communications, high technology, and others. More than 230 intergovernmental and intercompany documents have been signed between the two countries and six "road maps" are being implemented.

Azerbaijani investments in Russia's economy have exceeded $1.2 billion, with the majority of these investments being in the non-oil sector. In addition, Russian investments in Azerbaijan's economy totaled $6.3 billion, with $5 billion invested in the oil sector and $1.3 billion invested in non-oil sectors.

Additionally, some 14 Russian companies have applied for participation in Azerbaijan's Karabakh reconstruction.

The trade turnover between Azerbaijan and Russia amounted to $2.9 billion in 2021, making Russia Azerbaijan’s third-largest partner.

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Ayya Lmahamad is AzerNews’ staff journalist, follow her on Twitter: @AyyaLmahamad

Follow us on Twitter @AzerNewsAz

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