Official: Russia, Azerbaijan outline priorities for economic cooperation

Russia and Azerbaijan have identified key areas for joint development, with energy collaboration and transport links emerging as top priorities.

Speaking at the 23rd meeting of the Russia-Azerbaijan Intergovernmental Commission on Economic Cooperation in Astrakhan, Russian Deputy Prime Minister Alexei Overchuk said the two countries had mapped out a framework for further collaboration, Caliber.Az reports per Russian media. 

“We have outlined the priorities for our continued joint work,” Overchuk said.

“Russian-Azerbaijani relations are mutually beneficial. Among our main priorities are developing regional transport connectivity, strengthening an independent financial architecture for mutual settlements, cooperation in the energy sector, advancing industrial partnerships, including shipbuilding and agriculture, and collaboration in the Caspian region.”

According to Overchuk, Russia is firmly among Azerbaijan’s top three trading partners. "Our country accounts for 10% of the total foreign trade turnover of the Republic of Azerbaijan," he noted. "Around 1,800 companies with Russian capital are present in the Azerbaijani market."

The 23rd meeting of the Azerbaijan-Russia Intergovernmental Commission on Economic Cooperation has commenced in the Russian city of Astrakhan, Russia.

Prior to the meeting, the Azerbaijani delegation placed flowers at the monument to National Leader Heydar Aliyev in the city.

Apart from Overchuk, present at the meeting were Igor Babushkin, Governor of Russia’s Astrakhan region, as well as Rahman Mustafayev, Azerbaijani Ambassador to Russia, and Mikhail Yevdokimov, Russian Ambassador to Azerbaijan.

By Aghakazim Guliyev