Azerbaijan is the most important economic and trade partner for Russia in the South Caucasus, Azerbaijan’s Deputy Economy Minister Niyazi Safarov said at the 18th meeting of the intergovernmental commission on economic cooperation between Azerbaijan and Russia in Baku, Trend agency reports.
According to Safarov, Azerbaijan accounts for 45% of all Russian trade in the South Caucasus. In turn, Russia ranks first in Azerbaijan’s foreign trade. The dynamic development of these relations is based on the growth of trade in recent years and the increase in investment opportunities between the two countries, as well as mutual visits at the highest level.
“Azerbaijan highly appreciates the expansion of trade relations with Russia in the field of digitalization of the economy, high technologies and innovations, and the Azerbaijan permanent pavilion at the Exhibition of Achievements of National Economy in Moscow will become an important platform contributing to the development of bilateral economic relations,” he said.