Moscow Offers Baku Economic Revitalization

Baku / 27.08.20 / Turan: Russian Deputy Prime Minister Aleksey Overchuk and Azerbaijani Foreign Minister Jeyhun Bayramov, who is on an official visit to Moscow, held a working meeting on Wednesday. It is reported on the website of the Russian Government.

As noted, the parties discussed issues of bilateral trade and economic interaction, cooperation in the spheres of culture and education.

Aleksey Overchuk stressed that Russia and Azerbaijan are strategic partners, whose relations are built equally on trust and mutual benefit.

“Russia is one of the leading trade partners of Azerbaijan. From January to June 2020, trade between our countries reached $ 1.368 billion. There are more than 900 joint companies in Azerbaijan, including about 200 with 100% Russian capital. Mutual investments reached USD 6 billion. The action plan for the period up to 2024 is being successfully implemented - these are five “road maps” in the areas of trade, transport infrastructure, science-intensive production, increasing the efficiency of the economy and tourism. The draft of the sixth "road map" on cooperation in the field of innovative development and the digital economy has been agreed, and it is in a high degree of readiness for signing," the Deputy Prime Minister said.

Aleksey Overchuk noted the joint work on the development of the regulatory legal framework between Russia and Azerbaijan in the field of transport and proposed to intensify the activities on the implementation of the Memorandum of Cooperation signed in 2018 in the field of creation and development of digital transport systems.

The Deputy Prime Minister also spoke about the need to intensify work on the draft Agreement on readmission and the Agreement between the Government of the Russian Federation and the Government of the Republic of Azerbaijan on temporary labor activity and protection of the rights of citizens of the Russian Federation working in the territory of the Republic of Azerbaijan and citizens of the Republic of Azerbaijan working in the Russian Federation.

 “The signing of these documents is intended to improve, first of all, the quality of the conditions for the implementation of labor activity by citizens on the territory of our countries,” noted Aleksey Overchuk.

The participants of the meeting noted the importance of holding all the previously planned events, including the next meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan, the Forum of Youth Initiatives of Russia and Azerbaijan, the Russian-Azerbaijani Interregional Forum, the visiting meeting of the Valdai International Discussion Club in Baku and the International Baku Humanitarian Forum.

By the end of 2019, the trade turnover between Azerbaijan and Russia amounted to $ 3.022 billion, which was the highest figure in the last ten years. Azerbaijan has a negative trade balance of $ 1.555 billion.    — 0—