Deputy Prime Minister Shahin Mustafayev has said that Russian companies submitted 17 applications for implementing projects in Azerbaijan's liberated territories, Trend has reported.

He made the remarks at the plenary session of the Intergovernmental Commission on Economic Cooperation between Russia and Azerbaijan.

Mustafayev stated that Russian companies have good prospects for participating in the industrial park projects of Azerbaijan. Noting that the construction of the KAMAZ PJSC service center in Jabrayil region is currently underway, he mentioned that the plant is scheduled to get fully ready for July 2022.

"Moreover, negotiations on new Azerbaijan-Russia investment contracts are being carried out," he said.

The deputy prime minister also stressed that Azerbaijani investors implemented a number of projects, including the building of a sanatorium, in Russia.

Moreover, the official stated that Russia had presented primary information on two projects in Azerbaijan’s liberated territories. He noted that these are projects of a ground wind power plant with a capacity of 100 MW, as well as a project of small hydroelectric power plants with a total capacity of up to 20 MW.

"Azerbaijan is actively working in the field of renewable energy. Karabakh and East Zangazur have great potential in terms of renewable energy sources. Contacts are ongoing with the Russian side on cooperation in this area," he said.

Transport cooperation

Emphasizing that Azerbaijan and Russia are opening up new opportunities for cooperation in the transport and logistics field, Mustafayev added that the rapid growth of road transport necessitates improving checkpoints at the state border.

"We attach priority importance to the development of the North-South transport corridor. The launch of the project at full capacity will contribute to the development of the region and the growth of trade and transit," he said.

Mustafayev underlined that there are good opportunities arising from the trilateral statement of November 10, 2020, to open transport communications and create new infrastructure routes, which is in the interest of all countries in the region.

He noted that activities to synchronize the work of checkpoints on the Russian-Azerbaijani border are underway. In this regard, he mentioned that the timely completion of work on the reconstruction and expansion of the Yarag-Kazmalyar-Samur checkpoint will give additional impetus to the positive dynamics of bilateral foreign trade turnover.

"The increase in the number of lanes for the movement of freight transport to six at the Yarag-Kazmalyar-Samur checkpoint made it possible to increase the throughput capacity of the busiest checkpoint between our countries," he said.

In addition, he stated that statistics of recent years have shown an increase in both bilateral and transit traffic.

"At the same time, there is a serious shortage of permits for Azerbaijani carriers," he said.

Agriculture cooperation

Furthermore, highlighting that both countries have good dynamics of cooperation in agriculture, the deputy prime minister stressed that Azerbaijan ranks among the top-10 exporters of agricultural products to Russia.

He added that the export of fruits and vegetables from Azerbaijan to Russia increased by over 6 percent and totaled 560,000 tons in 2021.

"The throughput for such products as persimmons, grapes, potatoes, peaches, apricots increased as well. Since the beginning of 2022, the growth of deliveries of these products amounted to over seven percent. I would like to note that Azerbaijan is the main supplier of tomatoes and apples to the Russian market," he said.

Mustafayev added that Azerbaijan is counting on a further increase in the supply of fertilizers and wheat from Russia. Noting that Russia is a supplier of mineral fertilizers and grain crops to Azerbaijan, he added that 1.1 million tons of wheat were delivered from Russia to Azerbaijan in 2021.

"We purchased about 2 million tons of fertilizers from Russian Federation. We count on further support in increasing the volume of supplies of fertilizers and wheat to Azerbaijan," he said.

Trade turnover

Trade turnover between Russia and Azerbaijan amounted to $631 million in the first quarter of 2022, which is an increase by 8 percent compared to the same period last year, he said. In this regard, he noted that Russia is in general the third trading partner of Azerbaijan, and first in terms of non-oil exports.

The deputy prime minister also recalled that the trade turnover between the two countries increased by more than 12 percent and reached $3 billion in 2021.

"We hope that this positive trend will continue throughout 2022 and we will be able to achieve better results,” he said.

Mustafayev added that the mutual investments are also growing dynamically.

"Russia has invested in Azerbaijan's economy $6.3 billion, and Azerbaijan $1.2 billion into Russia's economy. In addition, Russian business is widely represented in the local market of our country and there are about 1,130 enterprises with Russian capital," he said.

Baku International Humanitarian Forum

Additionally, Mustafayev mentioned that it's scheduled to resume the Baku International Humanitarian Forum under the auspices of the Presidents of Azerbaijan and Russia.

Noting that the forum was postponed due to the COVID-19 pandemic, he stated that it is expected to be resumed with the improvement of the epidemiological situation.

"Holding the Forum will contribute to strengthening and expanding ties between people," he said.