Putin: Russia and Azerbaijan will implement joint projects in the Caspian Sea

Baku / 27.09.28 / Turan: The leaders of Russia and Azerbaijan expect that the companies of both countries will actively implement promising projects in the Caspian region, including in the sphere of oil and gas production. "We expect that Russian and Azerbaijani companies will actively engage in the implementation of promising projects in the Caspian region, first of all in the sphere of transport, cargo transportation, oil and gas production, ecology and, of course, bioresources," said Russian President Vladimir Putin at the ninth interregional Russian- Azerbaijani forum in Baku. Putin recalled that Russian energy companies are working successfully in the Azerbaijani market. In particular, the head of the Russian Federation mentioned the work of Rosneft in conjunction with the state corporation of Azerbaijan, which will soon begin exploration and development of the oil and gas field. "About $ 4 billion has been invested in energy projects in Azerbaijan by LUKOIL, and Transneft, our leading monopoly for oil transportation, ensures a reliable transit of Azerbaijani oil for export via the Baku-Novorossiysk oil pipeline," TASS quoted Putin.

He stressed that there are good opportunities for deepening cooperation in the automotive industry. "Investors from Azerbaijan participate in the construction of agricultural facilities in Russia, including, for example, a greenhouse complex in the Nizhny Novgorod region, investments amounted to more than one billion rubles, as well as a joint venture to produce food products in the Krasnodar Territory," the head of state said. "The convention on the status of the Caspian Sea has opened new opportunities for mutually beneficial cooperation between our states, which is certainly a breakthrough decision," Putin said.

At the same time, the Russian president noted that much more needs to be done to fully implement this agreement. "Of course, there is still much to be done to ensure that everything works to achieve full implementation, but the already signed document already creates a good basis for cooperation in the Caspian region," the head of state said. Putin said that Russia and Azerbaijan are building relations on mutual respect and finding a balance of interests. "Generally, speaking about the relations between Russia and Azerbaijan, I would like to emphasize that relations between our countries, of course, are built on the principles of good-neighborliness and mutual respect. We are always looking for a balance of interests and we find it," the president said.

He recalled that during the talks of the leaders in Sochi on September 1 a package of documents and agreements was signed that create an additional basis for the further construction of interstate relations between Russia and Azerbaijan. Putin noted that there are about 700 joint companies with Russian participation in the Azerbaijani market, and the total amount of direct Russian investments in the republic is more than 1.5 billion dollars.

"In 2017, the deliveries of Azerbaijani agricultural products to Russia have increased by almost 12%, this is the total amount, so for a minute, half a billion dollars." Our partners show an increased interest in this sphere," Putin said, noting that this is evidenced participation of more than 30 Azerbaijani companies in the international food exhibition in Moscow in September.

According to the Russian president, Russia and Azerbaijan are implementing joint infrastructure projects. "In particular, the creation of an international transport corridor" North-South "is going on-Iran, Azerbaijan, Russia, which is called upon to bring together European and Asian markets," the Russian head recalled. --06D--