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Azerbaijani Ambassador Polad Bulbuloglu, addressing the forum, stressed that the Azerbaijani and Russian presidents are paying big attention to development of relations between the two countries’ regions.

“Azerbaijan and Russia are neighbors; they have lived, live and will always live side by side,” the ambassador said.

“This year, we celebrate the 25th anniversary of the establishment of diplomatic relations between Azerbaijan and Russia,” he stressed.

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Governor of the Stavropol region Vladimir Vladimirov, taking his turn, emphasized that Russia’s Stavropol region can double the supply of agricultural products to Azerbaijan up to 3-4 million tons of products per year.

“In January-July 2017, the trade turnover between the countries amounted to

Governor of the Stavropol region Vladimir Vladimirov, taking his turn, emphasized that Russia’s Stavropol region can double the supply of agricultural products to Azerbaijan up to 3-4 million tons of products per year.

“In January-July 2017, the trade turnover between the countries amounted to $1.5 billion and increased by almost 80 percent compared to the same period of 2016.” The minister further said that the pharmaceutics is one of the promising spheres of cooperation.

“Hayat Pharm joint pharmaceutical company is being established in Azerbaijan.

Further the sides signed five documents: Memorandums on “Intentions to Implement an Investment Project on Construction of a Greenhouse Complex for Production of Vegetable Products”, “Intentions to Implement an Investment Project for Establishment of a 400-room Sanatorium-Hotel Complex”, and “Intentions to Implement an Investment Project for Construction of Rusel Sanatorium.

An agreement on cooperation between the government of Astrakhan Region and the Executive Power of the Narimanov District of Baku, as well as an agreement on cooperation between the Azerbaijan-Russia Business Council and the Union of Chambers of Commerce and Industry of Stavropol Region were also signed at the forum.

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Governor of the Stavropol region Vladimir Vladimirov, taking his turn, emphasized that Russia’s Stavropol region can double the supply of agricultural products to Azerbaijan up to 3-4 million tons of products per year.“In January-July 2017, the trade turnover between the countries amounted to $1.5 billion and increased by almost 80 percent compared to the same period of 2016.” The minister further said that the pharmaceutics is one of the promising spheres of cooperation.“Hayat Pharm joint pharmaceutical company is being established in Azerbaijan.Further the sides signed five documents: Memorandums on “Intentions to Implement an Investment Project on Construction of a Greenhouse Complex for Production of Vegetable Products”, “Intentions to Implement an Investment Project for Establishment of a 400-room Sanatorium-Hotel Complex”, and “Intentions to Implement an Investment Project for Construction of Rusel Sanatorium.An agreement on cooperation between the government of Astrakhan Region and the Executive Power of the Narimanov District of Baku, as well as an agreement on cooperation between the Azerbaijan-Russia Business Council and the Union of Chambers of Commerce and Industry of Stavropol Region were also signed at the forum.Mustafayev also expressed satisfaction with the current bilateral relations in the economic sphere.The minister stated that the adaptation of the Azerbaijani economy to the new economic conditions is under completion, adding that the Azerbaijani government expects the economic recovery and its sustainable growth.Mustafayev said the latest technology was introduced at the Rokadov Mineral Water OJSC.“Azerbaijan can become a consumer of this water,” added the minister.Russia has recently invested over $3 billion in the Azerbaijani economy, while Azerbaijan has invested more than $1 billion in the Russian economy.There are 650 joint companies operating in the Azerbaijani market, such as Lukoil Overseas, Avto VAZ, Kamaz and VTB.

.5 billion and increased by almost 80 percent compared to the same period of 2016.” The minister further said that the pharmaceutics is one of the promising spheres of cooperation.

“Hayat Pharm joint pharmaceutical company is being established in Azerbaijan.

Further the sides signed five documents: Memorandums on “Intentions to Implement an Investment Project on Construction of a Greenhouse Complex for Production of Vegetable Products”, “Intentions to Implement an Investment Project for Establishment of a 400-room Sanatorium-Hotel Complex”, and “Intentions to Implement an Investment Project for Construction of Rusel Sanatorium.

An agreement on cooperation between the government of Astrakhan Region and the Executive Power of the Narimanov District of Baku, as well as an agreement on cooperation between the Azerbaijan-Russia Business Council and the Union of Chambers of Commerce and Industry of Stavropol Region were also signed at the forum.