All news
Updated at: 

Trade turnover between Russia, Azerbaijan up 11% in eight months, says minister

It is noted that Russia is one of Azerbaijan’s main trade partners, with trade turnover between the countries rising each year

MOSCOW, October 27. /TASS/. Trade turnover between Russia and Azerbaijan rose by 11.5% in eight months of 2022 to $2.2 bln, Russia’s Economic Development Minister Maksim Reshetnikov said at the 15th Verona Eurasian Economic Forum in Baku.

"Our cooperation is expanding fast. Trade turnover between our countries gained 11.5% in eight months of 2022 to $2.2 bln, which is a good result, particularly considering the current economic situation," Reshetnikov was quoted as saying by the ministry’s press service.

Meanwhile, Minister of the Economy of the Republic of Azerbaijan Mikayil Jabbarov noted that efficient mutually beneficial cooperation existed between Moscow and Baku.

"Russia is one of Azerbaijan’s main trade partners, with trade turnover between our countries rising each year. That said, there is untapped potential as well," he was quoted as saying by the Russian Economic Development Ministry’s press service. "The development of transport-logistics ties plays a special role in its implementation. In this respect the upgrade of the border crossing infrastructure, the improvement of crossing possibilities and optimization of customs procedures are notable steps. The joint efforts currently underway facilitate the expansion of economic ties," he added.