A meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan was held in Baku.
Deputy Prime Minister of the Russian Federation Alexei Overchuk was received by President of Azerbaijan Ilham Aliyev. The parties discussed strengthening bilateral trade and economic cooperation, as well as Russia-Azerbaijan cooperation in transport, energy, transit, logistics, oil and gas. The talks also covered the restoration of transport communications in South Caucasus as part of an effort by the trilateral Working Group co-chaired by the deputy prime ministers of Azerbaijan, Armenia and Russia.
The 20th meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan took place, co-chaired by Russian Deputy Prime Minister Alexei Overchuk and Deputy Prime Minister of Azerbaijan Shahin Mustafayev and attended by representatives of competent bodies, the business community, ministries and agencies, from Russia and Azerbaijan.
The parties discussed a wide range of issues pertaining to trade and economic cooperation, focusing on industrial production, energy, transport, agriculture and food security, and region-to-region links.
The co-chairs praised the dynamic of bilateral relations, noting that there had been a progressive improvement in the contractual and legal framework and consistent implementation of the Action Plan for the Development of Key Areas of Russia-Azerbaijan Cooperation until 2024. Russia and Azerbaijan recorded a 10.2 percent year-on-year increase in January-February 2022. In 2021, mutual trade amounted to $3.4 billion, including Russian exports worth $2.3 billion and imports worth $1.1 billion.
Alexei Overchuk and Shahin Mustafayev welcomed the expansion of bilateral investment cooperation and emphasised the role played in this by regular business missions and the work of the Russia-Azerbaijan and Azerbaijan-Russia business councils.
In reviewing progress in industrial cooperation, the parties discussed the possibility of Russian companies participating in projects taking place in Azerbaijan’s industrial parks, as well as the further expansion of industrial cooperation. Around 1,000 companies with Russian capital operate in Azerbaijan.
On the issue of transport cooperation, Mr Overchuk and Mr Mustafayev focused in particular on the further development of the North-South international transit corridor.
The meeting participants also reviewed the bilateral cooperation in agriculture and food security, with positive dynamics identified in these fields.
Russia-Azerbaijan cultural and humanitarian relations enjoy a high level of development, with more than 340 Russian-language schools operating in Azerbaijan. The participants noted the importance of the Days of Azerbaijan in Moscow held in February 2022 and the Russia-Azerbaijan Forum of Youth Initiatives held in March 2022.
A protocol of the 20th meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan was issued following the meeting. Additionally, an agreement between Russia and Azerbaijan on retirement benefits and the protocol of intent between the Federal Corporation for the Development of Small and Medium-Sized Businesses and Azerbaijan’s Agency for the Development of Small and Medium-Sized Businesses were signed.
The parties reaffirmed their readiness to continue a constructive dialogue aimed at strengthening Russia-Azerbaijan relations across all areas of cooperation.