DM Monitoring
BAKU: A protocol on economic cooperation between Azerbaijan and Russia was signed in Moscow, according to the Azerbaijani Cabinet of Ministers. The protocol was signed following the 19th meeting of the Intergovernmental Commission.
The delegations led by co-chairs of the Commission – Deputy Prime Minister of Azerbaijan Shahin Mustafayev and Deputy Prime Minister of Russia Alexei Overchuk attended the meeting. The co-chairs of the Commission stressed that thanks to the efforts of the heads of state, the relations between the two countries reached the level of strategic partnership, continuing to successfully develop in various fields.
The main attention is paid to the implementation of the plan for the development of the main spheres of the Azerbaijan-Russia mutual activity until 2024 for the sustainable development of bilateral relations during the COVID-19 pandemic.
The work successfully continues to intensify cooperation within six roadmaps in the field of trade and investment, increasing transport potential, digitalization, innovative development, digital economy, tourism and the humanitarian sphere.
The trade turnover between Azerbaijan and Russia increased by two percent in the first quarter of this year.
The parties are pleased with the volume of mutual investments, adding that there are ample opportunities for their increase and that despite the COVID-19 pandemic, the turnover of products of the agro-industrial complex between the countries increased by six percent in 2020. Moreover, the parties stressed the importance of expanding the range of agricultural products which are exported from Azerbaijan to Russia. The importance of strengthening the existing legal framework was also emphasized. The parties are also pleased with the development of cooperation in the transport and transit sphere.
In general, the parties stressed an increase in cargo transportation by train in the first quarter of this year by more than five percent compared to the same period of last year and the volume of cargo transportation by vehicles – by 11 percent.
