Commodity turnover between Azerbaijan and Russia in 2022 may reach a record $4 billion - Lavrov From IFX

Trade turnover between Russia and Azerbaijan in 2022 may reach a record $4 billion, Russian Foreign Minister Sergey Lavrov said on Monday at a press conference following talks with Azerbaijani Foreign Minister Jeyhun Bayramov.

“Russia is one of Azerbaijan's leading trading partners. Over the 10 months of this year, trade has grown impressively – exceeded $3 billion, and by the end of the year we expect a record $4 billion,” he said.

According to him, Russian economic operators are also ready to actively participate in joint projects with Azerbaijani colleagues, in including in the post-conflict reconstruction of Azerbaijani territories. “The agenda includes the implementation of a number of major projects, including such important and notable ones as the production of GAZ trucks, the development of the Russian Helicopters service center, and a number of others,” the minister added.

Bayramov, in turn, expressed hope for continued positive dynamics in trade and investment relations with the Russian Federation. “Speaking of the increase and successful development of trade, economic and investment cooperation, cooperation of scientific, technical and humanitarian ties, of course, it is worth noting separately the importance of fulfilling the approved and agreed road maps between our countries. It has already been noted that 2022 is another successful year, and according to the results of 10 months, the trade turnover exceeded $3 billion, and this is an increase of 20%. We believe that this positive dynamics will be maintained until the end of this year,” the Azerbaijani Foreign Minister said.

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