Azernews.Az

By Amina Nazarli

Baku hosted an Azerbaijani-Russian business forum on May 12 within the framework of Days of Dagestan and visit of Head of the Dagestan Republic Ramazan Abdulatipov to the capital.

Azerbaijan's Economy Minister Shahin Mustafayev, addressing the event, said that the relations between the two sides are developing successfully in all the directions and regular mutual visits of officials and joint events demonstrate the interest in deepening mutual relations.

“Azerbaijan and Dagestan have common historical and cultural roots," said the minister.

He further talked about the Days of Dagestan running in Baku on May 12-13. Mustafayev noted that the event will be a new phase in the development of cultural, as well as trade and economic relations.

The minister pointed out that Azerbaijan is the main consumer of Dagestan’s products and the trade turnover between the two parties increased in the first quarter of 2016.

Mustafayev also invited Dagestan's business community to do business in Azerbaijan.

Speaking at the forum, Ramazan Abdulatipov stressed that Dagestan stands ready to offer preferences to Azerbaijani entrepreneurs.

The head of Russia's Dagestan Republic pointed out that Dagestan is interested in expanding the relations with Azerbaijan, adding that there are opportunities to create joint enterprises in Dagestan.

The effective use of the existing potential can make it possible to significantly develop the trade and economic relations between Azerbaijan and Dagestan, according to Abdulatipov, who added that the two countries may cooperate in the spheres of construction, tourism and services.

He also noted that Azerbaijan and Dagestan have a potential to increase the trade turnover by dozens of times.

Abdulatipov believes that the trade turnover, which stood at $160 million as of 2015, doesn't correspond to the level of the Azerbaijani-Dagestani relations and it can be significantly increased.

As part of the business forum, the Agency for Entrepreneurship and Investment of Russia's Dagestan and Azerbaijan's Caspian Invest Ltd. signed a cooperation agreement.

The document was signed by the head of the Dagestani agency, Bashir Magomedov and head of the Caspian Invest Ltd., Aydin Huseynov.

Caspian Invest Ltd. commercial director Namig Rahimli said the company will build a greenhouse complex, a logistics center and a trade house in Dagestan.

Since its establishment in 2003, the Caspian Invest Ltd. has offered consultancy, engineering and investment advisory services to its clients in both private and public sectors, in partnership with its international partners.

The company actively operates in various areas, including finance, energy, transportation and others.

Azerbaijan continues to strengthen business cooperation with Russian regions, thus increasing number of mutual agreements and business entities.

The Republic of Dagestan is a federal subject Russia, located in the North Caucasus region. Its capital and largest city Makhachkala, located at the center of Dagestan on the Caspian Sea.

Parliaments sign cooperation document

Azerbaijan’s parliament and People's Assembly of the Dagestan Republic of the Russian Federation have signed a document on cooperation.

The document was signed at the meeting of Parliamentary Chairman Ogtay Asadov and the chairman of People's Assembly of the Dagestan Republic Khizri Shikhsaidov.

Asadov has noted that there are ancient friendly and neighboring relations between Azerbaijan and Russia, adding that today the relations between Azerbaijan and Dagestan are developing in all areas.

Mutual visits at high level open new opportunities for further development of bilateral ties, according to Asadov. He emphasized that the starting Days of Dagestani Culture in Azerbaijan will promote these relations even more.

Asadov has especially noted the role of parliaments in expansion and strengthening of bilateral relations, emphasizing that cooperation and exchange of experience in the legislative sphere yield positive results.

Shikhsaidov, in turn, noted that Dagestan is interested in development of relations with Azerbaijan in all fields.

He has noted that Dagestanis wish the quick peaceful settlement of the painful problem for Azerbaijan - the Nagorno-Karabakh conflict.

The sides had comprehensive exchange of views on other questions of mutual interest.

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Amina Nazarli is AzerNews’ staff journalist, follow her on Twitter: @amina_nazarli

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