Azernews.Az

By Nazrin Gadimova

An Azerbaijani-Russian business forum will be held in Baku as part of the visit of a Russian delegation on April 3.

The news was announced by the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) on March 27.

The delegation is headed by the Acting Governor of Russia's Stavropol region Vladimir Vladimirov.

The event, organized by the AZPROMO with the support of the Azerbaijani Ministry of Economy and Industry, will bring together the representatives of Stavropol's companies operating in agro-industrial complex, food industry, construction, energy, chemistry, education and other areas.

Over the past ten years, the volume of Azerbaijan's investments in Russia's economy amounted to around $1 billion, $200 million of which fell on 2013.

About 570 Russian companies are operating in the country, Azerbaijani Minister of Economy and Industry, Shahin Mustafayev said earlier, adding that over $628 million was invested in fixed capital.

Foreign trade turnover between Azerbaijan and Russia amounted to $2.58 billion in 2013, which is 10.47 percent more than 2012, the Azerbaijani State Customs Committee said.

Azerbaijan's exports to Russia amounted to $1.078 billion, while the import of goods from Russia totaled $1.505 billion during the reported period.