BAKU, Azerbaijan, July 17. Russia and
Azerbaijan are interested in further increasing trade volume.
Russian Foreign Minister Sergey Lavrov made this statement
during a press conference following his meeting with Azerbaijani
Foreign Minister Jeyhun Bayramov in Moscow.
“We discussed trade and economic cooperation, taking into
account that the regular meeting of the intergovernmental
commission took place in April. We noted that there is a mutual
interest in further increasing trade volume. Last year, the volume
of bilateral trade reached nearly five billion dollars. Russia
remains one of Azerbaijan’s leading economic partners. And there is
significant potential for increasing our trade volume and the flow
of direct investment. Our investments in Azerbaijan amount to
nearly $11 billion. More than 1,400 commercial entities with
Russian capital are operating in the republic,” he said.
Furthermore, he stated that the parties also discussed joint
efforts by Russia, Azerbaijan, and Iran to unlock the logistical
potential of the western branch of the “North-South” international
transport corridor.
“We noted that the Russian-Azerbaijani intergovernmental
agreement on increasing transit freight traffic along this route,
signed in Moscow in December 2024, is currently being implemented,”
Lavrov said.
The Russian Foreign Minister noted that the 29th meeting of the
bilateral commission on the allocation of water resources of the
transboundary Samur River took place on July 9.
“The parties are satisfied with how this project is being
implemented and how the agreements are being carried out,” he
added.
