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Azerbaijan interested in cooperation with Tatarstan

4 December 2013 17:27 (UTC+04:00)
Azerbaijan interested in cooperation with Tatarstan

By Aynur Jafarova

Azerbaijan is interested in cooperation with Tatarstan in the development of non-oil sector, Azerbaijan's Deputy Economy and Industry Minister said.

Speaking at the Azerbaijani-Russian working meeting held in Baku on December 4, Niyazi Safarov said the Tatarstan delegation expressed interest in cooperation in the fields of engineering, agriculture, and other sectors.

"The two sides share common interests and there are opportunities for bilateral cooperation," he said.

Safarov went on to note that Azerbaijan is currently establishing four industrial parks, particularly a high-tech park in Sumgayit.

Tatarstan, in turn, has a lot of experience in establishing free economic zones and industrial parks, and can share its experience with Azerbaijan, he said.

He also said relations between Azerbaijan and Russia are at the level of strategic cooperation, adding that Azerbaijan's economy is developing successfully and the country's economic potential would contribute to the expansion of bilateral cooperation with Russia and its regions, including Tatarstan.

Tatarstan's Deputy Industry and Trade Minister Yldar Mingaleyev said export of products in engineering, chemical, electricity, food, and agriculture industries to Azerbaijan is among prospective areas, adding that trade turnover between Azerbaijan and Tatarstan reached $255 million in 2012.

The Azerbaijani-Russian working meeting was organized by Azerbaijan Export and Investment Promotion Fund (AZPROMO) with the support of Ministry of Economy and Industry.

Officials and businessmen in the fields of industry, energy, chemistry, shipping, agriculture, and health care attended the event.

Headed by Tatarstan's Deputy Prime Minister and Minister of Industry and Trade Ravil Zaripov, the Tatarstan delegation was received by Azerbaijan's Economy and Industry Minister Shahin Mustafayev on December 3.

During the meeting, Zaripov said Tatarstan is keen to expand bilateral bonds with Azerbaijan.

Highlighting Azerbaijan's economy and the projects implemented in the country, Mustafayev said Azerbaijan attaches great importance to expanding bilateral ties with Russia and Tatarstan.

The minister said there were ample opportunities to expand Azerbaijan-Tatarstan cooperation in several economic fields.

Zaripov, in turn, gave information on Tatarstan's economy and stressed the importance of enhancing cooperation between Azerbaijan and Tatarstan in various economic fields.

Azerbaijan and Russia have an extensive legal framework with more than 30 economic documents already signed.

Trade turnover between the two countries reached $3.4 billion in 2012.

Azerbaijan has invested about $563 million in Russia's economy over the past ten years. At present, 479 companies with Russian capital operate in Azerbaijan, and around $468 million has been recently invested by the Russian side in Azerbaijan's economy.

At present, 72 out of 83 regions of the Russian Federation have been involved in foreign trade with Azerbaijan, and visits, business forums, and business meetings are being organized to expand bilateral relations further.

Some 13 business forums, business meetings, and exhibitions have been conducted with Russia's entities over the last three years, contributing to the expansion of relations between Azerbaijan and the Russian regions.

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