KAZAN, May 19. /TASS/. The Russian side expects trade turnover with Azerbaijan to rise to $5 bln in 2023, Russian Deputy Prime Minister Aleksey Overchuk said on Friday.

"Our trade volumes are growing stably. <…> In 2022, trade turnover between our countries amounted to $4.17 bln, up notably by almost 24.5%. This year solid growth is registered, and we expect <…> trade turnover between our countries to reach $5 bln," he said at the 14th International Economic Forum ‘Russia - Islamic World: KazanForum’.

Russia’s direct investment in the Azerbaijani economy "increased considerably" in 2022, Overchuk added.