Deputy PM: Azerbaijan, Russia discuss tariff settlement parameters

Azerbaijan and Russia have reviewed the parameters of a tariff settlement within the framework of a meeting of the Intergovernmental Commission on Economic Cooperation (IGC), Azerbaijani Deputy Prime Minister Shahin Mustafayev has stated.

At a meeting of the Azerbaijan–Russia Business Council in Baku, he said that concrete agreements had been reached during yesterday’s IGC talks in the transport and logistics sector, Caliber.Az reports, citing local media.

According to him, key objectives and implementation timelines were defined, as well as parameters for tariff settlement.

“Issues related to increasing cargo transportation volumes were discussed, and relevant instructions were issued to take concrete measures. We expect practical results to be achieved in the shortest possible time,” the vice-premier said.

Mustafayev added that Azerbaijan is a reliable partner of Russia, open to productive dialogue and mutually beneficial cooperation both bilaterally and multilaterally.

“Azerbaijan and Russia are linked by past trade and economic relations, which create a basis for further strengthening bilateral cooperation. We are confident that, building on the achievements already made, we can achieve new significant results through joint efforts,” he mentioned.

He noted that, as of April 1, 2026, more than 2,100 commercial entities with Russian capital are registered in Azerbaijan, over 1,400 of which are actively operating.

“They are represented in key sectors of the economy, including industry, agriculture, transport, construction, trade, pharmaceuticals, and services. Direct Russian investment in the Azerbaijani economy amounts to $10.7 billion, including $2.9 billion directed to the oil and gas sector,” Mustafayev emphasised.

The vice-premier also called on Russian companies to become more actively involved in investment projects in Azerbaijan’s liberated territories.

By Bakhtiyar Abbasov