Azerbaijan-Russia bilateral trade is one of the main areas of cooperation between the two countries, Russian Ambassador to Azerbaijan Mikhail Bocharnikov said on June 10 at a press conference held at the Trend International News Agency.
He noted that in the first quarter of 2019, the trade turnover between Azerbaijan and Russia exceeded $500 million and showed an increase by 13.08 percent.
“According to Russian statistics, in January-March, the trade turnover between our countries exceeded half a billion dollars,” he said. “Last year, the trade turnover between our countries reached $2.400 million. There are also Azerbaijani statistics, according to which in four months from the beginning of the year, the trade turnover exceeded $800 million, which is a more than 20 percent growth. This is a very positive factor.”
Bocharnikov noted that the bilateral trade is built not in the raw materials sector, but in such priority areas of cooperation as agriculture, machine engineering and industrial production.
The trade turnover between Azerbaijan and Russia amounted to $2.55 billion in 2018, which is 19.1 percent more than in 2017, according to Azerbaijan’s State Statistics Committee. The share of trade operations with Russia in 2018 accounted for 8.25 percent of the total foreign trade turnover of Azerbaijan.