Russia and Azerbaijan expand trade and economic relations

Baku/02.06.14/Turan : Prospects for trade and economic cooperation between Russia and Azerbaijan are very nice and dynamic, said in Baku Alexei Ulukayev, the  Economic Development Minister.

At a press conference in Baku on Monday , he said that trade between the countries has  increased by  4.7 times since 2004. On the results of 2013 the volume of trade amounted to 3.6 billion dollars, and there are  all the opportunities to increase this figure to four  billion.

Referring to his visit to Azerbaijan , Ulukayev reported that he is  discussing  expanding economic cooperation  with the Minister of Economic Development of Azerbaijan Shahin Mustafayev , which resulted in signing  the Memorandum .

Speaking about the specific results of the negotiations, Ulukayev said that the sides are preparing to sign agreements on guarantees on mutual investments, creating in the central part of Russia  and Economic and Trade Center of Azerbaijan, and  to sign a long-term program of economic cooperation between the two countries.

"It can be said that these documents are ready and will soon be signed,"  said Ulukayev.

Responding the problems impeding the economic ties between the two countries, the Russian minister highlighted limitations  of "logistical character" and the lack of legal basis.

"Therefore, in the negotiations with the Minister Mustafayev we raised the question of the creation in both countries logistics centers, and  developing transport links,"  said Alexey Ulukayev. -02D-