The possibilities of expanding economic ties between the two countries were discussed during the visit of Azerbaijani Minister of Economy Mikayil Jabbarov to the Russian Federation, the Ministry of Economy of Azerbaijan reported, AzVision.az reports.

It was noted that the Minister of Economy Mikayil Jabbarov held meetings with the Deputy Prime Minister of Russia, the Minister of Industry and Trade Denis Manturov, the Minister of Economic Development Maxim Reshetnikov, the Chairman of the Central Bank of Russia Elvira Nabiullina, as well as with the heads of several companies and commercial structures of the Russian Federation.

During the meetings, it was emphasized that economic cooperation between the countries is expanding due to the great importance that Azerbaijan and Russia attach to the development of bilateral ties. Russia is one of the main trading partners of Azerbaijan and ranks first in imports of Azerbaijani non-oil products. At the meetings, during which issues on the development agenda of Azerbaijani-Russian economic relations were discussed, there were considered prospects for increasing the dynamics of cooperation in trade, transport, industry, mechanical engineering, shipbuilding, pharmaceuticals, innovation, the use of solutions based on artificial intelligence, finance and other areas.

There was also provided information on measures to develop the non-oil industry of Azerbaijan, benefits for entrepreneurs in industrial zones, and opportunities for implementing joint projects. The parties discussed ways to improve mechanisms for promoting cooperation and other issues of mutual interest.

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