5 Mar 2024 16:36

Mishustin arrives in Azerbaijan

BAKU. March 5 (Interfax) - Russian Prime Minister Mikhail Mishustin has arrived in Azerbaijan.

"Mishustin's meeting with Azerbaijani President Ilham Aliyev and negotiations with Prime Minister Ali Asadov are planned," the Russian government press service said earlier.

The parties plan to review aspects of the development of Russian-Azerbaijani trade and economic cooperation, it said. "Special significance will be attached to promoting joint projects in the energy, transport, industrial, cultural and humanitarian, and other areas of mutual interest," it said.

"They plan to sign a number of intergovernmental and interagency documents," it said.

A Russian-Azerbaijani intergovernmental commission for economic cooperation is a key mechanism coordinating the development of bilateral trade and economic and humanitarian relations, which is co-chaired by Russian Deputy Prime Minister Alexei Overchuk and Azerbaijani Deputy Prime Minister Shahin Mustafayev, the press service said. The commission gathered for its 21st meeting in Moscow on July 7, 2023.

Russia is a leading foreign trade partner of Azerbaijan, where over 1,400 companies with Russian capital operate, including nearly 300 wholly owned by Russian investors. Major joint projects are being pursued in Azerbaijan by Kamaz, Lukoil, R-Pharm, and Metrovagonmash. Direct Russian investment in the Azerbaijani economy amounted to $295 million in 2023, ranking fourth after the United Kingdom, Turkey, and Cyprus.

The two countries are prioritizing cooperation in the transport and logistics sector, the press service said.

Russia and Azerbaijan are jointly developing the western route of the North-South international transport corridor which passes through Azerbaijan. "The November 17, 2022 agreement between the Russian and Azerbaijani governments on cooperation and interaction in jointly developing border crossing points and access routes to them is being implemented," it said.

The two countries are also bolstering ties in the humanitarian and educational fields and expanding interregional cooperation, it said.

The 12th Russian-Azerbaijani interregional forum was held in Russia's Mineralnye Vody on February 28.