Azerbaijan, Russia sign roadmap on development of key areas of cooperation for the years 2024-2026

Azerbaijan, Russia sign roadmap on development of key areas of cooperation for the years 2024-2026
# 22 January 2024 18:59 (UTC +04:00)

Azerbaijan`s Deputy Prime Minister Shahin Mustafayev has met with visiting Deputy Prime Minister of the Russian Federation Alexei Overchuk, culminating in the signing of the roadmap on the development of key areas of Azerbaijani-Russian cooperation for the years 2024-2026, the Cabinet of Ministers of the Republic of Azerbaijan told APA.

The sides hailed the successful growth of friendly relations between Azerbaijan and Russia across various domains. They specifically highlighted that the signing of the Declaration on “Allied Interaction between the Republic of Azerbaijan and the Russian Federation" by the presidents of Azerbaijan and Russia in Moscow on February 22, 2022, elevated bilateral relations to a qualitatively new level.

The comprehensive legal framework between the two countries was acknowledged, with particular emphasis on the positive outcomes achieved through the implementation of roadmaps on the development of key areas of Azerbaijani-Russian cooperation until 2024, based on the directives of the heads of state.

The roadmaps implemented between 2018-2023 included measures to facilitate trade, diversify trade flows, enhance customs and checkpoint infrastructure, increase cargo transportation capacity across the state border, and improvements in departure points, among other areas. The stability in Azerbaijani-Russian trade and economic relations was evident, with trade witnessing more than a two-fold increase, exceeding $ 4.3 billion compared to 2017. Additionally, the volume of total cargo transportation between the two countries increased by 87% in 2023 compared to 2017, with transit cargo volume almost quadrupling. The International North-South Transport Corridor also experienced a 44% increase in cargo transportation compared to 2017.

The meeting addressed the importance of mutual investment projects and discussed prospects for cooperation in this area.

They hailed the level of cooperation in various industrial areas, emphasizing that this cooperation also extends to the liberated territories.

Commending the development of cooperation in the transport and logistics sector, the parties highlighted the extensive opportunities in this domain. Underlining the crucial role of the International North-South Transport Corridor, they stressed the significance of collective endeavors to ensure its optimal operational capacity.

During the meeting, the sides explored prospects for advancing cooperation between Azerbaijan and Russia in energy, agriculture, customs-border infrastructure improvement, humanitarian efforts, and several other spheres.

The roadmap outlines specific measures to foster cooperation in trade and economic, investment, transport, industry, agrarian and food security, energy, tourism, humanitarian and social, as well as innovation and information technology fields.

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