A meeting between Prime Minister of the Republic of Azerbaijan Ali Asadov and Prime Minister of Russia Mikhail Mishustin took place in Baku.
The one-on-one meeting continued in an expanded format with the participation of delegations from the two countries.
The meeting participants expressed satisfaction with the development of Azerbaijan-Russia relations in various fields. They praised the signing of bilateral documents following the meeting and expressed confidence that these documents would create new opportunities for building up bilateral cooperation in trade, economy, transport, and health sector.
The progressive development of economic ties was especially noted. It was brought to the attention that mutual trade value grew by almost 20 percent and amounted to around $3 billion in the ten months of 2022.
The participants emphasized the importance of further investment collaboration, as well as outlined the active role of the Azerbaijan-Russia and Russia-Azerbaijan Business Councils in establishing direct contacts and improving partnership between business circles.
It was also emphasized that since the beginning of the year, the total cargo traffic volume between Azerbaijan and Russia has grown by nearly 22 percent.
Furthermore, the meeting underscored a significant increase in the transit traffic of Russian goods through transport corridors on Azerbaijan's territory, which amounted to 98 percent from January through October 2022.
The sides agreed that the North-South International Transport Corridor is of priority importance, and expressed satisfaction with the coordinated activities of the two countries in order to develop the corridor.
The industrial sector was characterized as a key area of bilateral relations. The sides said that the oil and gas sector interaction is going upwards and noted the prospects for renewable energy cooperation.
During the meeting, the parties expressed their mutual intention to enhance efforts across the entire spectrum of mutually beneficial cooperation.
Following the meeting, a number of documents were signed.
