Friday, 18 February 2005AssA-Irada 18/02/2005 10:24
Russian President Vladimir Putin has said that Russian companies intend to step up their investment activity in Azerbaijan.
"Many Russian companies have announced they would invest in Azerbaijan's economy and specific projects are available", Putin said in a meeting with President Ilham Aliyev at the Kremlin on Wednesday.
Aliyev said that Baku "welcomes the investments and hopes for a fruitful cooperation with Russia".
The two presidents confirmed that economic collaboration "is developing quite vigorously".
Putin said that the commodities turnover between the two countries has increased by a record high of 50% in 2004.
"The figure is currently over $800 million, but I am confident it will reach a billion soon", he said.
President Aliyev also pointed out the rapidly growing turnover of goods.
"We were not expecting the trade turnover with Russia to grow so rapidly. We aimed to double it over a longer term, but this is already a reality today."
Azerbaijan is satisfied with the level of its cooperation with Russia, which bears a nature of strategic partnership, Aliyev said.
390 enterprises and companies involving Russian capital are operating in Azerbaijan, including 117 joint ventures, 95 fully Russian-owned companies and 124 representations and subsidiaries of Russian companies.
Source: BakuToday |
Friday, 18 February 2005
Azerbaijan
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