Russia’s Ryazan region opens showroom of its products in Baku

By Azernews

By Ayya Lmahamad

A mobile showroom of Russia’s Ryazan Region products and services has opened in Azerbaijan’s Baku, Azernews reports, citing foreign media.

The showroom was opened as part of the business mission of the Ryazan Region to Azerbaijan and showcases more than 500 products from 57 enterprises of the region.

Already on the first day of the showroom’s operation, preliminary agreements on cooperation were achieved.

To note, this is the sixth showroom opened by the Ryazan region in different countries since September 2021.

The showroom in Baku will work until October 7, 2022.

Officials and businessmen from Russia’s Ryazan Region, headed by Regional Deputy Prime Minister Artem Nikitin, are on a visit to Azerbaijan on September 14-16.

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 the non-oil sectors.

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