MINERAL WATER, February 28. /TASS/. Azerbaijan expects that by the end of 2024 the trade turnover with Russia will exceed last year’s record figure of $4.4 bln, Deputy Prime Minister of Azerbaijan Shahin Mustafayev said on Wednesday.

"Our trade turnover increased by 17.5% in 2023, reaching a record high of around $4.4 bln. By the end of this year, we hope to reach new, higher figures," he said.

The Deputy Prime Minister noted that Russia invested more than $8.7 bln in the Azerbaijani economy, and Azerbaijani entrepreneurs, in turn, gave more than $1 bln in the form of investments.

According to him, Baku and Moscow have noticeably expanded cooperation in recent years in several areas, such as cooperation in industrial, transport, energy, agricultural, cultural, humanitarian, and many other spheres.