Azerbaijan, Republic of Karelia may sign economic cooperation roadmap

Azerbaijan and the Republic of Karelia are considering signing a roadmap to expand trade and economic cooperation, according to the Azerbaijani Embassy in Russia.

The matter was addressed during a working meeting between Azerbaijan’s First Deputy Minister of Economy Elnur Aliyev and Karelia’s Head Artur Parfenchikov, held on the sidelines of the St. Petersburg International Economic Forum (SPIEF), Caliber.Az reports via local media.

The discussions focused on strengthening bilateral trade and investment relations. It was highlighted that Karelia is actively expanding its cooperation with southern and eastern foreign markets, while Azerbaijan is seeking to broaden its engagement with Russian regions.

"A roadmap for developing trade and economic cooperation between Azerbaijan and Karelia is currently under consideration," the diplomatic mission added.

The Republic of Karelia is a federal subject of Russia located in the northwestern part of the country, bordering Finland and forming part of the broader Fennoscandian region.

The region’s economy is heavily based on natural resources, particularly forestry, mining, and hydropower, which play a central role in its industrial development and export profile.

By Jeyhun Aghazada