He made the remarks during the Azerbaijan-Russia business forum being held in Baku.
Mammadov said that Russian companies have invested $1.8 billion in Azerbaijan’s economy in recent years and $1.6 billion of this amount accounts for the oil and gas sector.
“Another $200 million accounts for the investments in the non-oil sector and currently intensive work is underway for diversifying our economic relations which is the priority for both sides,” said Mammadov.
Russia has great experience in diversification of economy and Azerbaijan is also on the same path, he said.
"90% of Russian investments in Azerbaijan account for oil and gas sector"
02 October 2015
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Almost 90 percent of Russian investments in Azerbaijan account for the oil and gas sector, Rufat Mammadov, head of Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said Oct.2.
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