Azerbaijani authorities to open trading houses in Moscow and Russia’s regions

Azerbaijani authorities to open trading houses in Moscow and Russia’s regions
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Azerbaijan is working on the opening of its trade, wine and tea houses in Moscow, St. Petersburg, Yekaterinburg and Astrakhan, the country's Economy Minister, Shahin Mustafayev, said on Thursday.

This statement Mustafayev made at a meeting of the Azerbaijani-Russian and Russian-Azerbaijani business councils held within the framework of the IX Interregional Forum in Baku.

Last year, the trade turnover between Russia and Azerbaijan increased by 34.4%, up to $2.63 billion. Russian direct investment in the Republic amounts to about $1,5 billion.

In his turn, Chairman of the Board of the Azerbaijan-Russian Business Council, Samad Gurbanov, said that the council is ready to actively cooperate with the subjects of Russia.

“We are very pleased to establish contacts with all the subjects of the Russian Federation, as well as to stimulate the interest of Azerbaijani business circles in investing in these regions”, Gurbanov said. According to him, recently, a number of large projects in the regions of Russia have been implemented by the members of the Council or with its direct assistance.

“In the city of Essentuki, the Azerbaijani company Karat Holding put into operation a resort center, with the volume of investment amounting to $25 million. Apart from that, the Azerbaijani group of companies ATEF has become the first foreign resident of the Lotus special economic zone in the Astrakhan region,” Gurbanov added.