The VII Azerbaijani-Russian inter-regional forum dedicated to trade, economic ties and mutual investment policy of the two countries will be held in Baku on November 1.
According to the Ministry of Economy, the forum will host a meeting of representatives of business circles of Azerbaijan and Russian regions. These are companies that are engaged in industry, agriculture, construction, tourism, trade, consulting, logistics, ICT, finance, pharmaceuticals, etc.
The previous VI Russian-Azerbaijani inter-regional forum was held in Yekaterinburg on September 30.
According to the State Customs Committee of Azerbaijan, for the first 9 months of this year the trade turnover between Azerbaijan and Russia amounted to $ 1 billion 347.1 million, which is slightly ($ 4.4 million) less than in the comparable period of 2015. Imports of goods from Russia were 4 times higher than Azerbaijan exports ($ 251.6 million). -------08D
Economics
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On 21 December, Russian Transport Minister Roman Starovoit met with Azerbaijani Minister of Digital Development and Transport Rashad Nabiyev at the Russian Ministry of Transport.
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Hundreds of trucks are stuck in the Kazakh port of Kuryk, facing delays for several days while waiting for ferry transport to Azerbaijan, the Azakhstan portal reports lada.kz. The backlog is due to a combination of reduced ferry availability, adverse weather conditions, and an influx of cargo rerouted because of expanded sanctions on Russia.
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Members of the Association of Independent Industrialists and Businessmen (MÜSIAD) have invested 61.3 million manats in Azerbaijan's economy over the past three years, Rashad Jabirli, chairman of "MÜSIAD Azerbaijan," revealed during a media briefing.
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While the global economy faces persistent challenges, trade between China and Azerbaijan has defied downward trends, demonstrating significant growth. According to official statistics from Azerbaijan, bilateral trade in 2023 reached 3.1 billion US dollars. In just the first ten months of 2024, trade volume increased by 17.1% year-on-year, reaching 3.02 billion US dollars, putting the annual trade figure on track to hit a record high.
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