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Mutual investment fund in prospect for Russia, Azerbaijan

June 03, 2014, 13:26 UTC+3 BAKU
“Resources of the Russian-Azerbaijan fund may be used to finance priority projects, particularly in trade, transport and agriculture,” an official says
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Russia’s Economic Development Minister Alexei Ulyukayev

Russia’s Economic Development Minister Alexei Ulyukayev

© ITAR-TASS/Valery Sharifulin

BAKU, June 03. /ITAR-TASS/. Russia and Azerbaijan may create a mutual investment fund, Russia’s Economic Development Minister Alexei Ulyukayev told students and professors of the Azerbaijan Diplomatic Academy on Tuesday.

Russia's Direct Investment Fund (RDIF) and the Azerbaijan Investment Company might join the project, he said.

“Resources of the Russian-Azerbaijan fund may be used to finance priority projects, particularly in trade, transport and agriculture,” the minister added.

He added that the Russia’s gross domestic product (GDP) will increase 2.5-3.0% on average in 2015-2017.

“Beginning from next year, Russia’s GDP will stand at 2%. We might expect a 2.5-3.0% increase in 2015-2017,” Ulyukayev said.

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