BAKU, Azerbaijan, September 26. Deputy Prime Minister of Azerbaijan Shahin Mustafayev met with Deputy Chairman of the Government of the Russian Federation Alexander Novak today.
This is reflected in the statement of the Cabinet of Ministers of Azerbaijan.
"During the meeting, the current state and prospects for the development of bilateral relations were discussed, particularly cooperation in the trade and economic sphere, including industry, energy, transport and logistics," the statement said.
According to the State Customs Committee of Azerbaijan, trade turnover between Azerbaijan and Russia amounted to about $2.4 billion in January-August 2026. Azerbaijan's imports from Russia exceeded $1.57 billion, while exports to Russia amounted to more than $840 million.
For comparison, bilateral trade turnover between the two countries stood at $3.3 billion in January-August 2025. Thus, the volume of trade between Azerbaijan and Russia decreased by approximately 27.3% year-on-year.
In addition, Russia's foreign direct investment (FDI) in Azerbaijan amounted to $237.119 million in the first six months of 2026.
According to Trend's calculations based on data from the Central Bank of Azerbaijan (CBA), this is $107.392 million, or 1.8 times, higher than in the same period last year. During the reporting period, Russia's share in the total volume of foreign direct investment in Azerbaijan stood at 6.5%.
In the first six months of 2025, Russia's FDI in Azerbaijan amounted to $129.727 million.
Meanwhile, Azerbaijan's FDI in Russia totaled $22.488 million in the first half of 2026. This represents a decrease of $5.850 million, or 20.6%, compared with the same period of 2025. During the reporting period, Azerbaijan's share in the total volume of outward FDI stood at 0.4%.
