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Over 2,100 Russian-linked companies registered in Azerbaijan

Deputy Prime Minister of Azerbaijan, Shahin Mustafayev

17 April 2026 11:48 (UTC +04:00)

Russia is one of Azerbaijan’s main trading partners and holds an important place in the structure of the country’s foreign trade turnover, said Deputy Prime Minister Shahin Mustafayev, at a meeting of the Azerbaijan-Russia Business Council, APA-Economics reports.

It was noted that last year, trade turnover between Azerbaijan and the Russian Federation exceeded 4.2 billion US dollars and demonstrated steady growth:

“The Russian market is one of the main destinations for Azerbaijan’s non-oil exports. According to the results of 2025, exports of agricultural products to Russia exceeded 837 million US dollars, while fruit and vegetable supplies increased by approximately 31%. At the same time, imports of agricultural products from Russia exceeded 830 million US dollars.

Azerbaijani companies regularly participate in major sectoral exhibitions held in Russia. This confirms the high export potential of local products and the interest in further strengthening positions in the Russian market.

Investment cooperation occupies a special place in the Azerbaijan-Russia agenda. As of April 1, 2026, more than 2,100 commercial structures with Russian capital have been registered in Azerbaijan, of which more than 1,400 are actively operating. These companies are represented in key sectors of the economy, including industry, agriculture, transport, construction, trade, pharmaceuticals, and services.”

Shahin Mustafayev said that the volume of direct investments from Russia into Azerbaijan’s economy amounted to 10.7 billion US dollars:

“Of this, 2.9 billion dollars have been directed to the oil and gas sector. Cooperation has gained practical content, especially in the industrial sector. Joint projects with leading Russian manufacturers are being consistently implemented in Azerbaijan. The production and assembly of various types of automotive equipment, including buses, trucks, and passenger cars, have been organized.”