According to him, for the present, 600 Russian companies operate in Azerbaijan: “100% share of 200 of these companies are owned by Russia, over 400 are joint ventures. Along with this, Russia invested $1.4 billion in Azerbaijan’s fixed capital. Major part of these investments is in oil sector. However, the investments in machinery, pharmacology, chemical industry and banking sector also increased”.
Eldar Tlyabichev added that the cooperation between Russian and Azerbaijani companies is extending: “Russia is remaining as a main partner of Azerbaijan. Taking into account the global economic crisis, including devaluation of Azerbaijani manat, we witness our trade turnover decline. However, Russia’s share in Azerbaijan’s total trade turnover makes up 11.4%, in import – 17.9%”.
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