By Aynur Jafarova
Ramazan Abdulatipov, the President of Russia's Dagestan Republic, started his working visit to Azerbaijan on December 26.
"Azerbaijan and Dagestan are close neighbors and this visit will be a great opportunity to discuss the prospects of development of cooperation," Russian Ambassador to Azerbaijan Vladimir Dorokhin told Baku-based Trend news agency on the eve of the visit.
Abdulatipov is expected to hold several meeting with the top officials of the Azerbaijani government during the visit.
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.
Currently, 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.