"The volume of Azerbaijan’s investments in Russia amounts to 1.2 billion US dollars," said Deputy Prime Minister of the Republic of Azerbaijan, Shahin Mustafayev, during his speech at the 24th meeting of the Intergovernmental Commission on economic cooperation between Azerbaijan and Russia held in Zangilan, APA reports.
He noted that a significant portion of these investments is directed toward tourism and recreation, and a number of important projects have been implemented in this area, including the creation of modern sanatorium and resort facilities. Within these projects, facilities have been commissioned in the cities of Yessentuki, Kislovodsk, and Zheleznovodsk.
The Deputy Prime Minister emphasized that the Azerbaijani capital is also represented in Russia’s manufacturing sector, including the food sector of the Krasnodar region.
According to him, this demonstrates that economic cooperation between the two countries is becoming increasingly sustainable, diversified, and strategic in nature.
Shahin Mustafayev added that Azerbaijani companies regularly participate in major industry exhibitions held in Russia, which confirms the strong export potential of local products and helps further strengthen positions in the Russian market.
He also noted that the Azerbaijan–Russia and Russia–Azerbaijan business councils make a significant contribution to developing direct ties between entrepreneurs and promoting joint investment projects.
Shahin Mustafayev stated that a meeting of the Azerbaijan–Russia Business Council will be held in Baku in the near future.
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