Azernews.Az

The trade and economic relations between Russia and Azerbaijan have positive development prospects and trade turnover has almost doubled for five years, Russian trade representative in Azerbaijan Yuri Shchedrin said at a press conference on Wednesday.

"We consider the prospects of developing bilateral economic cooperation with optimism, proceeding from the growing export potential of the countries' economies, expanding the number of participants in foreign economic activity and the development of cross-border and regional cooperation," Shchedrin said.

At present, 71 out of 83 regions of Russia have been involved in foreign trade with Azerbaijan. Over 500 Russian companies and organisations operate in Azerbaijan, including 200 with full Russian capital and the rest were created in the form of joint ventures.

According to the Russian State Statistics Service, Russian-Azerbaijani trade turnover amounted to 2.315.4 billion in January-September or 13.1 per cent more than in the same period of the last year. Russian exports to Azerbaijan increased by 17.7 per cent to 1.975.4 billion, while imports from Azerbaijan reduced by 7.9 per cent to $340 million.

Russia has a surplus worth 1.635.4 billion in foreign trade turnover with Azerbaijan.