The volume of Azerbaijan’s investments in Russia is 1.2 billion dollars.
“Elchi” reports that Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev stated this during his speech at the 24th meeting of the Intergovernmental Commission on Economic Cooperation between Azerbaijan and Russia held in Zangilan.
He noted that a significant part of these investments is directed towards the tourism and recreation sector, and a number of important projects have been implemented in this direction to create modern sanatorium-resort facilities. Within the framework of these projects, facilities have been commissioned in the cities of Yessentuki, Kislovodsk, and Zheleznovodsk.
The Deputy Prime Minister emphasized that Azerbaijani capital is also represented in the manufacturing industry in Russia, including the food sector of the Krasnodar Territory.
According to him, this shows that economic cooperation between the two countries is becoming increasingly sustainable, diversified, and strategic in nature.
Shahin Mustafayev added that Azerbaijani companies regularly participate in major industry exhibitions held in Russia, which confirms the high export potential of local products and serves to further strengthen their positions in the Russian market.
He also noted that the Azerbaijan-Russia and Russia-Azerbaijan business councils make a significant contribution to the development of direct ties between entrepreneurs and the promotion of joint investment projects.
Shahin Mustafayev stated that a meeting of the Azerbaijan-Russia Business Council will be held in Baku in the near future.