Prime Minister of the Republic of Azerbaijan Ali Asadov received the Deputy Prime Minister during the visit. Alexei Overchuk and Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev held a meeting of co-chairs of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan.
Alexei Overchuk and Shahin Mustafayev conducted a meeting of co-chairs of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan. Photo courtesy of the Press Service of the Cabinet of Ministers of the Republic of Azerbaijan
Alexei Overchuk and Shahin Mustafayev signed an action plan (roadmap) for expanding key spheres of Russia-Azerbaijan cooperation in 2024-2026. Photo courtesy of the Press Service of the Cabinet of Ministers of the Republic of Azerbaijan
Alexei Overchuk’s meeting with Prime Minister of the Republic of Azerbaijan Ali Asadov. Photo courtesy of the Press Service of the Cabinet of Ministers of the Republic of Azerbaijan
Alexei Overchuk and Shahin Mustafayev conducted a meeting of co-chairs of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan. Photo courtesy of the Press Service of the Cabinet of Ministers of the Republic of Azerbaijan
Deputy Prime Minister Alexei Overchuk arrived on a working visit in the Republic of Azerbaijan (Baku). Alexei Overchuk and Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev held a meeting of co-chairs of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan.
Alexei Overchuk and Shahin Mustafayev reviewed topical issues of bilateral relations, part of the Intergovernmental Commission’s agenda, and had a detailed discussion on joint efforts to expand cooperation in trade, the economy, industry, energy, transport, agriculture, finance, healthcare, culture, education, science and tourism, as well as interregional cooperation.
The co-chairs emphasised the positive trends in the development of trade, confirming cost-effective bilateral cooperation. They noted during the meeting that Russia-Azerbaijan trade had soared by 17.5 percent throughout 2023.
“Russia ranks among the five countries that have channelled the most substantial levels of direct investment into the Azerbaijani economy. Russia invested $295 million in Azerbaijan throughout 2023,” Alexei Overchuk said.
The meeting’s participants singled out high-priority aspects of joint work, including industrial cooperation and co-production arrangements. Under this concept, the parties are implementing cooperation projects in the automotive and aerospace sectors, pharmaceutics and other spheres.
The co-chairs noted impressive levels of interaction between business circles. In 2023, over 20 Russian regions conducted 25 business missions in Azerbaijan.
Russia-Azerbaijan interregional ties are another key sector of dynamic bilateral strategic partnership. Russian regions are expanding their practical interaction with Azerbaijan all the time.
The meeting participants also reviewed transport and logistics interaction and noted progress in organising the work of international checkpoints. The throughput capacity of checkpoints on the border between the Russian Federation and the Republic of Azerbaijan has expanded.
“In the transport sphere, we are working actively to develop the North-South international transport corridor in the bilateral and multilateral formats, and we are developing the western route of this corridor,” the Deputy Prime Minister said.
Tourist traffic continues to expand each year between Russia and Azerbaijan. In January-September 2023, 188,000 tourists travelled from Azerbaijan to Russia, up 50 percent on 2022. In turn, 368,500 people travelled from Russia to Azerbaijan, 60 percent more than in 2022.
The creation of transborder Caspian cruise itineraries and their marketing and promotion is a promising aspect of cooperation. Expanding Caspian cruise ship traffic and the creation of a cruise tourism infrastructure in littoral states’ ports will help expand tourist traffic.
Following the meeting, Alexei Overchuk and Shahin Mustafayev signed an action plan (roadmap) for expanding key spheres of Russia-Azerbaijan cooperation in 2024–2026. The plan aims to expand cooperation in seven key spheres, including in trade, the economy, transport, industry, agriculture, energy, the cultural-humanitarian area and IT.
The sides reaffirmed their readiness to continue constructive dialogue aimed at strengthening Russia-Azerbaijan relations in all cooperation spheres.
As part of the visit, Alexei Overchuk was received by Prime Minister of the Republic of Azerbaijan Ali Asadov. The officials reviewed topical issues of Russia-Azerbaijan trade and economic cooperation and the implementation of joint projects.
The sides noted the importance of signing the action plan for expanding key spheres of Russia-Azerbaijan cooperation in 2024–2026.
