TODAY.AZ / Business

Azerbaijan Business Center to open in Astrakhan

03 August 2017 [17:15] - TODAY.AZ

By Azernews

By Rashid Shirinov

Azerbaijan Business Center will be opened in Astrakhan, Russia in September to boost the business ties between the two sides.

As many as 208.56 million rubles ($3.45 million) of private investment will be put in the implementation of the project, the Astrakhan region government website reported on August 3. The Astrakhan authorities noted that Mechta Ltd. will implement the investment project, while 41 new jobs with an average salary of $340 will be additionally created. 

In late May, the project was granted the status of the particularly important, and this entitles it with support from the government.

The Azerbaijan Business Center in Astrakhan will be the second one in Russia. The first such Business Center is being built in Moscow.

The agreement on the construction of the business center in Astrakhan was signed in the framework of the 7th Azerbaijan-Russia Interregional Forum held in Baku in November last year.

The Center will promote Azerbaijani products in the Russian market. The interested Russian companies will have opportunity of concluding long-term contracts with specific suppliers from Azerbaijan. Thus, the construction of the center will contribute to the effective development of trade and economic relations between business entities of both countries.

Azerbaijan is one of the main economic partners of Russia among the CIS countries. The trade turnover between two countries amounted to almost $2 billion in 2016. Interregional cooperation plays an important role in the development of Russian-Azerbaijani trade and economic relations and the increase in trade turnover.

At present, enterprises of 71 regions of the Russian Federation cooperate directly with Azerbaijan. Fifteen regions of Russia have relevant agreements with Azerbaijan on trade and economic, scientific, technical and cultural cooperation.


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