Russia invested over $5 bln in Azerbaijan's economy, minister says

Russia has invested more than $5 billion in the Azerbaijani economy, Azerbaijani Foreign Minister Jeyhun Bayramov said.

Bayramov made the remarks Wednesday following a meeting with his Russian counterpart Sergey Lavrov in Moscow.

"The trade turnover between the countries in 2019 exceeded $3 billion, an increase of 18 percent compared to 2018,” the minister said. “The growth rates have slightly decreased this year, but at the same time, they have retained positive dynamics.”

“Russia has invested more than $5 billion in the Azerbaijani economy,” the minister added. “I would like to stress that successful economic cooperation between our countries is not limited only to bilateral format."

Bayramov stressed that Russia and Azerbaijan are initiators and active participants in transit international corridors such as North-South and North-West.

"They are an important element of international transit,” the minister said. “It is gratifying that during the period of restrictive measures associated with the pandemic, the cargo transportation volumes not only did not decrease, but continue to grow."


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