V Azerbaijani-Russian forum started

The two-day V Azerbaijani-Russian forum "Interregional cooperation: new opportunities for growth" started in Gabala.

According to the Minister of Economy and Industry of the Republic of Azerbaijan Shahin Mustafayev, mutually beneficial cooperation between the two countries is reflected even in the turnover - today the level is $ 2.6 billion. By local standards impressive is the investment of Azerbaijan in the Russian regions - $ 1 billion in the past 10 years.

The head of the economic department believes that if it were not the Armenian occupation of part of the Azerbaijani territory, various economic projects could be implemented in full. Azerbaijan signed documents on cooperation with 15 subjects of the Russian Federation, and it is not the limit, he said.

According to the Minister of Regional Development of the Russian Federation Igor Slyunyayev, head of the Russian delegation, successful cooperation is observed in energy, finance, transportation, and other industries, but there is an opportunity for capacity building, especially in agro-industry, tourism and mutual investment.

One of the main points of the program is the signing of the Memorandum of Understanding between the Ministry of Regional Development of Russia and the Ministry of Economy and Industry of Azerbaijan. The program of the event includes exchange of contacts between the business communities of the two countries and a showcase of Russian companies and investment projects.

At the forum it is expected to sign a number of agreements and arrangements. As of June 23, 2014, the Republic of Azerbaijan and the Russian Federation signed documents regulating relations in more than 160 areas. Of these, 40 relate to the economy.

In terms of exports to Russia, Azerbaijan ranks third and on imports it ranks the 1st place. - 17D-