Baku, Azerbaijan, Oct. 7
Trend:
About 700 companies with Russian capital operate in Azerbaijan, Shahin Mustafayev, Azerbaijani economy minister, co-chair of the Intergovernmental State Commission for Economic Cooperation Affairs between Azerbaijan and Russia, said in an interview with the official Azerbaijani media outlets, Trend reports.
Russia has invested $4.6 billion in Azerbaijani economy, while Azerbaijan invested $1.2 billion in Russia.
"Azerbaijani investors in various regions of Russia are implementing projects covering the financial and banking sector, real estate, health resorts sectors, food industry, production of building materials, etc," the minister said.
"At the same time, joint projects with Russia are being implemented in our country. SOCAR Polymer project, creation of a pharmaceutical enterprise in the Pirallahi Industrial Park, cooperation of the Ganja Automobile Plant with the Russian KamAZ and Ural factories, joint projects of AzerMash and GAZ companies, projects of the center for repair and maintenance of helicopters, insulating materials production in Hajigabul are important examples of Azerbaijani-Russian industrial and investment cooperation."
