Image Credits - Atlantic Council
Russian President Vladimir Putin has emphasized the positive development and promising prospects of economic cooperation between Russia and Azerbaijan following his recent talks with Azerbaijani President Ilham Aliyev.
During their discussions, Putin noted that nearly 1,300 Russian enterprises are currently operating within the Azerbaijani market. This significant presence reflects the favourable dynamics of economic relations between the two nations, he said. The Russian leader added that the agreements and joint statements made during the talks set ambitious goals for advancing their bilateral relationship and would help address these objectives effectively.
Putin highlighted that enhancing trade cooperation was a key focus of the discussions, underscoring the mutual benefits of the economic partnership. He described Russia and Azerbaijan as important economic partners and mentioned that Russian companies are thriving in Azerbaijan. Notable examples include Lukoil, Kamaz, which has established an assembly plant, Sollers, and UAZ. Additionally, Putin reminded that Transmashholding signed a contract earlier this year to supply a significant number of Russian carriages for the Baku metro.
He expressed optimism about ongoing projects, including the collaboration between the United Shipbuilding Corporation and Baku Shipyard to produce modern river-sea tankers for oil transportation. Putin conveyed gratitude to Azerbaijani authorities for creating favorable conditions for Russian businesses in the country.
Putin’s visit to Azerbaijan, from August 18–19, marks his eighth official trip to the country as Russian President. His first visit took place in January 2001, and his most recent visit was in September 2018, during which he attended the World Judo Championships and addressed the 9th Russian-Azerbaijani Interregional Forum.