By Azernews

By Ayya Lmahamad

Representatives of Russia's Chelyabinsk Region arrived in Azerbaijan for a business mission on August 29, Azernews reports.

The delegation, organized by the Agency for International Cooperation of the Chelyabinsk Region, included heads of such enterprises as Oil Service LLC, Industrial Milling System LLC, Sotis LLC, Intersvyaz LLC, Trading House of Automobile Plant Ural LLC, Ural Oil and Gas Industry Equipment LLC.

Russian Export Center’s representative office head in Azerbaijan Nuri Guliyev, Russia’s Trade Representative in Azerbaijan Ruslan Mirsayapov held a meeting with representatives of the business delegation.

During the meeting, the delegation was informed about the most promising areas of cooperation and opportunities for developing business ties. Moreover, officials also advised entrepreneurs on the promotion of their products in the Azerbaijani market.

In the coming days, the business mission will have a large number of negotiations, B2B meetings, and visits to Azerbaijani enterprises.

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.