MOSCOW: The 7th Russia-Azerbaijan Interregional Forum is scheduled for September 28, 2017 in Stavropol, Russia. Azerbaijan Export and Investment Promotion Foundation (AZPROMO) reported that the forum will bring together officials and entrepreneurs from many regions of Russia and Azerbaijan. The previous Russia-Azerbaijan interregional forum was held in Baku in November 2016, which ended with signing of 12 documents.
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. The 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, according to Azerbaijan’s State Customs Committee.