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Valentina Matviyenko: “Tremendous work done to deepen trade ties between Russia and Azerbaijan”

23 November 2019 14:13 (UTC +04:00)

The volume of trade turnover between Russia and Azerbaijan increased by 14 % amounted to USD 2,5 bln last year, Valentina Matviyenko, Chairperson of the Federation Council of the Federal Assembly of the Russian Federation stated at 10th Russian-Azerbaijan Interregional Forum, APA-Economics reports citing TASS.

According to her, investment cooperation between the countries is also strengthening: "Direct Russian investments in Azerbaijan amount to about $ 1.5 billion. About 700 of joint ventures operate on the Azerbaijani market. Over the past years, tremendous work has been done to deepen trade and economic ties between Russia and Azerbaijan and we are already seeing its practical results. Mutual trade turnover last year grew by almost 14% and amounted to about $ 2.5 billion. Russia is the main trading partner of Azerbaijan on import and export of non-resource-based sectors."