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Russia's Stavropol Region entrepreneurs eye entering Azerbaijani market

26 October 2022 10:46 (UTC+04:00)
Russia's Stavropol Region entrepreneurs eye entering Azerbaijani market

By Ayya Lmahamad

A business mission of Russia's Stavropol region entrepreneurs, headed by the regional Export Support Center Deputy Head Bella Kipkeyeva, visited Azerbaijan, Azernews reports.

The delegation included representatives of MOK LLC (confectionery and equipment for their production), Rassvet AO (protective coatings for cars and ships), and Uspekh LLC (agricultural and municipal equipment) companies.

As part of the mission, a meeting was held with Russia’s Trade Representative in Azerbaijan Ruslan Mirsayapov, and the head of the Russian Export Center representative office in Azerbaijan, Nuri Guliyev.

During the meeting, Stavropol region’s representatives presented their expert-oriented products, exchanged issues of interest, and received detailed recommendations on working in the Azerbaijani market.

Ruslan Mirsayapov spoke about the activities of the trade representation to support Russian exporters and underlined the importance of participation of enterprises of the Stavropol region in international exhibitions held in Azerbaijan, in particular, Caspian Agro and InterFood Azerbaijan, slated for May 2023.

Moreover, within the framework of the business mission, entrepreneurs held B2B negotiations with specialized Azerbaijani companies and visited BakuBuild, AquaTherm, and Rebuild Karabakh international exhibitions in Baku.

As a result of the negotiations, Azerbaijani companies showed interest in cooperation with the enterprises of the Stavropol region, and the parties agreed to send commercial proposals and continue negotiations.

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

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

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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