Baku to host Azerbaijani-Russian Interregional Forum

By Sabina Mammadli

Baku will host the Azerbaijani-Russian Interregional Forum, Foreign Ministry Spokesperson Maria Zakharova told a weekly briefing.

In a statement, Zakharova noted that a number of top-level engagements and visits spanning all cooperation issues are scheduled by the end of 2022.

“The ties between Russian constituent entities and Azerbaijan make a considerable contribution to the development of our relations," she added.

Similarly, Russia's Oryol region plans to send a business mission to Azerbaijan, and the issue was discussed online between the business representatives of Oryol region and Russia's Trade Representative office in Azerbaijan.

Director of the Oryol Regional Export Support Center Inessa Volkova informed the participants that the center is planning a full-time business mission of Oryol region's companies to Azerbaijan in November 2022.

"During the business mission, B2B meetings with potential Azerbaijani partners will be organized for every company with the support of the Russian Trade Representative office as well as a visit to Azerbaijani enterprises," the office said.

Further, Russia's Trade Representative in Azerbaijan Ruslan Mirsayapov talked about the priority direction of cooperation between the two countries and answered questions by companies.

The participants in the session were able to get advice on product certification, search and work with potential Azerbaijani partners. It was noted that face-to-face business missions and participation in specialized exhibitions in Baku are effective tools for working in the Azerbaijani market.

Meanwhile, Russia's Trade Representative office in Azerbaijan and business representatives of Russia's Leningrad region held a videoconference to discuss the results of the face-to-face business mission to Azerbaijan in February.

The videoconference took place within the framework of the project of the Ministry of Industry and Trade of Russia 'An Hour with a Trade Representative'.

"Russia's Trade Representative office in Azerbaijan will hold a consultation on all proposals previously sent to Azerbaijan," the office said.

As part of the conference, Mirsayapov provided updated information on priority directions of cooperation, and the current situation in the local market and answered questions by companies.

Further, Head of the Russian Export Center Yulia Sergeyeva noted that the Russian Export Center of Leningrad region is organizing the participation of representatives of regional business with a collective stand in the 27th 'BakuBuild' International Exhibition slated for October 19-21.

Azerbaijan and Russia cooperate in different sectors, such as economy, agriculture, customs, communications, high technology, and others. Over 230 intergovernmental and intercompany documents have been signed between the two countries and six "road maps" are being implemented.

Azerbaijan's investments in the Russian economy have exceeded $1.2 billion with the majority of the investments being in the non-oil sector. In addition, Russian investments in Azerbaijan's economy totaled $6.3 billion with $5 billion in the oil sector and $1.3 billion in non-oil sectors.

The trade turnover between Azerbaijan and Russia amounted to $2.9 billion in 2021, making Russia Azerbaijan’s third-largest partner.