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Russia ready to create engineering enterprises with Azerbaijan

Ambassador Mikhail Bocharnikov recalled that Russia has already invested $4.2 bln in various forms, including joint ventures, into the economy of Azerbaijan

BAKU, December 24. /TASS/. Russia is ready to establish joint ventures with Azerbaijan in the field of production of equipment for the oil and agricultural industries, Russian Ambassador to Azerbaijan Mikhail Bocharnikov announced on Monday at a press conference.

"Russia has so far invested $4.2 bln in various forms, including joint ventures, into the economy of Azerbaijan. We would like to focus on the industrial sector in order to diversify the economy of Azerbaijan, as well as our economic relations. From the side of the state, we will support enterprises that promote the development of industrial production," he said.

"Our plans include creating mechanical engineering joint ventures for oil production needs. There are also plans to establish enterprises in the field of agricultural engineering," the diplomat said.

According to Bocharnikov, this issue was discussed at the meeting of the Russian-Azerbaijani intergovernmental commission on economic cooperation held in December in Moscow and was reflected in the final document. "The commission has given appropriate instructions to help establish such enterprises," he added.