Azerbaijan invested over $1B in Russia’s economy

Azerbaijan’s total investments in Russia exceed $1 billion, Azerbaijani Economy Minister Shahin Mustafayev said at the opening ceremony of Azerbaijan’s business center in Russia’s Astrakhan city.

He said that Russian investments in Azerbaijan’s economy reached $4 billion.

“Russia is one of the main trade partners of Azerbaijan, so it is no accident that Azerbaijan opened the first trade representation in Russia,” Mustafayev said. “There is positive trend in the bilateral trade: in 2017, trade turnover between our countries grew 22 percent and reached $2 billion. For the four months of this year, the trade turnover has grown 30 percent.”

In turn, the governor of Russia’s Astrakhan region Alexander Zhilkin drew attention to the fact that the Astrakhan business center is being built in Baku.

The solemn opening ceremony of the first business center of Azerbaijan in Russia built on the initiative of the Heydar Aliyev Foundation took place May 31 in Astrakhan city.

The multi-purpose five-story building includes an exhibition hall, a conference room, offices and a mini-hotel. The total area of ​​the center is 5,000 square meters.

There is an exhibition hall on the first floor of the center, where products of 35 best Azerbaijani companies are showcased. In particular, manufactured goods, building materials and food products - nuts, tea, as well as Azerbaijan’s brands - dried persimmon and pomegranate wine are showcased. On the second floor, there are offices of Azerbaijani companies, a conference room for negotiations, as well as hotel rooms and a restaurant on the upper floors.

Source: TREND