The 7th Russia-Azerbaijan interregional forum was held in Baku in November 2016. As a result of the forum, 12 documents were signed.
Russia is one of main trade and economic partners of Azerbaijan. Over the years of cooperation, both countries signed more than 170 various documents, over 50 of which were in the economic sphere. Meanwhile, interregional ties are also successfully developing between the two countries. Nearly 40 Russian regions have already signed bilateral agreements with their Azerbaijani partners on trade, economic, scientific, technical and cultural cooperation.
As of today, Azerbaijan has invested $1 billion in Russia’s economy, and Russia has invested $3 billion in the Azerbaijani economy.
According to Azerbaijan’s State Customs Committee, trade turnover with Russia totaled $1.1 billion in January-July 2017 and almost $300 million out of this amount accounted for the export from Azerbaijan to Russia.
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