Russia invites Azerbaijani businessmen to its market

3 February 2016 12:37 (UTC+04:00)

By Nigar Orujova

Azerbaijani products may fill the free space in Russian market as the latter banned import of many products from the EU and Turkey.

The president of the Russian Chamber of Commerce has invited Azerbaijani business community to review the Russian market and to keep in focus the import substitution of those goods, which are now lacking in the Russian shelves.

Sergey Katyrin expressed hope that Azerbaijan will occupy those niches in the trade that were freed, especially given the strained relations between Ankara and Moscow.

“There is a prospect of growth in this area. First are agricultural products, fruits and vegetables as well as food products. The potential in the development of high-tech industries and equipment production can also be noted,” he told Moscow-Baku information resource.

Azerbaijan and Russia enjoy great potential for the development of bilateral trade, said Katyrin.

“I am confident Russia and Azerbaijan have not exhausted their possibilities in trade. In my opinion, cooperation should be developed more intensively. The prospects are enormous,” he stressed.

Praising he measures taken by the Azerbaijani leadership to strengthen the economy, Katyrin stressed the importance of reducing the VAT on some goods.

“I also want to note that the reduction of VAT on a number of important products is quite the right thing. Flour or bread is number one goods in the country. If the tax burden for entrepreneurs is weaken, it is also quite a wise move. Note that the small and medium businesses can quickly recover and grow,” he said

Katyrin believes as soon as there is a change of the tax burden, the business community immediately positively responds to this.

He specially noted that today it is important to negotiate the extension of the presence of Azerbaijani businessmen in the Russian market.

“Today, when niches in Russian market are freed, Azerbaijani entrepreneurs need urgently to come to our market and sign long-term contracts that guarantee delivery and fixed prices,” he said.

The president of the Russian Chamber of Commerce invited the delegation of Azerbaijan for negotiations, to work out all the procedures.

The trade turnover between the two countries was not the highest in 2015. The figure amounted to $1.85 billion last year, of which $416.77 million fell on export to Russia, according to the Azerbaijan State Customs Committee.

The trade turnover between the strategic partners for the first time exceeded $4 billion in 2014.

Russia became very interested in Azerbaijani products especially food products after escalation of ties first with the western countries and then with Turkey.

Today, Azerbaijan has sufficient recourses and infrastructure to boost export of agricultural products and relevant negotiations were already held in Azerbaijan and Russia.


Nigar Orujova is AzerNews’s staff journalist, follow her on Twitter: @o_nigar

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