Azerbaijani, Russian deputy PMs discuss deepening economic ties in Baku meeting

Azerbaijani Deputy Prime Minister Shahin Mustafayev met with his Russian counterpart Alexey Overchuk in Baku to discuss the current state and future prospects of bilateral economic cooperation, the Cabinet of Ministers said.

During the meeting, the parties noted that trade turnover between the two countries increased by more than 10% in 2024, with this positive trend continuing into 2025. Over the first eight months of the year, bilateral trade rose by 13.5% year-on-year to reach $3.35 billion, Caliber.Az reports, citing local media.

Freight traffic along the North–South transport corridor grew by 8.3% in the first nine months of 2025, including a 10.4% increase in road shipments and a 2% rise in rail transport.

Exports of agricultural products from Azerbaijan to Russia also increased by 15% in the first eight months of 2025, with fruits and vegetables accounting for 23% of the total.

The sides expressed satisfaction with the progress of joint projects in investment, industry, transport, energy, customs, and other sectors, stressing the importance of synchronising infrastructure expansion along the North–South corridor to ensure a steady growth in cargo flow.

They also highlighted the recent Azerbaijan–Iran–Russia trilateral meeting held in Baku today, October 13, expressing confidence that the discussions and adopted decisions will further strengthen cooperation across key sectors and benefit the broader region.

By Khagan Isayev