Plenary meeting of X Russian-Azerbaijani Interregional Forum kicks off in Moscow

Plenary meeting of X Russian-Azerbaijani Interregional Forum kicks off in Moscow

Plenary meeting of the 10th Russian-Azerbaijani Interregional Forum has kicked off in Moscow.

Organizers of the forum are the Ministry of Economic Development of the Russian Federation and the Ministry of Economy of the Republic of Azerbaijan.

Mehriban Aliyeva, First Vice-President of the Republic of Azerbaijan, and Valentina Matvienko, Chairman of the Federation Council of the Russian Federation, attended the opening ceremony.

Direct Russian investments in Azerbaijan amount to about $1.5 billion, Chairperson of the Federation Council of the Federal Assembly of the Russian Federation Valentina Matviyenko said at the 10th Russia-Azerbaijan Interregional Forum in Moscow, Trend reports Nov. 23.

Matviyenko noted that about 700 joint ventures of the two countries operate in the Azerbaijani market.

“Over the past years, tremendous work has been done to deepen trade and economic ties between Russia and Azerbaijan,” the chairperson added. “We already see its practical results. Mutual trade turnover last year grew by almost 14 percent and amounted to about $2.5 billion. Russia is Azerbaijan’s main trade partner in the import and export of non-oil sector goods.”

Matviyenko also emphasized intensive cooperation in the transport sector, in particular as part of the formation of the North-South corridor.

The chairperson expressed confidence that the corridor will become the most important transport artery of Eurasia and will make it possible to significantly accelerate the cargo transportation from South Asia to Europe via Russia and Azerbaijan.

Matviyenko believes that in order to further strengthen the economic ties between the two countries, it is necessary to maximize the use of mechanisms for interregional cooperation.