Baku. Ilkin Ahmadov – APA-Economics. In January-September 2016, the trade turnover between Azerbaijan and Russia increased. Currently, Russia ranks 3rd in Azerbaijan’s trade turnover, 1st in import, Minister of Economy Shahin Mustafayev said at the 7th Azerbaijani-Russian Regional Forum held in Baku.
According to him, there is a free trade regime between the two countries: “This contributes to trade links and cooperation among the businessmen”.
Mustafayev noted that nearly 600 Russian companies operate in Azerbaijan. He added that Russia invested over $3 billion in Azerbaijan’s economy recent years and Azerbaijan invested over $1 billion in Russia’s economy: “Azerbaijan’s Karat-Holding launched a sanatorium-resort centre worth $25 million in Yessentuki this year. Azersun Holding has constructed a plant produce canned fruit and vegetable worth $8 million and tea factory worth $3 million. Karvan-L constructed Stalprom in The Kabardino-Balkar Republic and Anji Sport Centre worth $1.5 million in Dagestan”.
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