Russian companies invited to join Azerbaijani energy projects [UPDATE]

By Azernews

By Ayya Lmahamad

Azerbaijan has invited Russian companies to participate in energy projects implemented in the country as investors.

The remarks were made at a meeting between Azerbaijani Deputy Energy Minister Elnur Soltanov and head of the Russian Industry and Trade Ministry's International Cooperation and Licensing in Foreign Trade Department Roman Chekushov.

The parties focused on bilateral cooperation in various fields. They expressed satisfaction with the participation of Russian companies in the projects on the development of the energy sector in Azerbaijan.

Participants in the meeting were briefed on the projects implemented in Azerbaijan in the energy field, including green energy.

Moreover, the Russian delegation was informed of the energy potential of the liberated territories, the work done and plans to restore the energy infrastructure.

The Russian delegation gave information about its companies operating in relevant fields and expressed interest in participation in projects implemented in Azerbaijan.

In this regard, an agreement was reached on the mutual exchange of detailed information about the projects to be implemented in Azerbaijan and about Russian companies.

Azerbaijan and Russia have mutual cooperation in different fields, such as economy, agriculture, customs, communications, high technology, and others. More than 230 intergovernmental and intercompany documents have been signed between the two countries and six "road maps" are being implemented.

Earlier this year Azerbaijan participated in a number of international exhibitions held in Russia. The trade turnover between Azerbaijan and Russia amounted to $2.6 billion in 2020, making Russia Azerbaijan’s third-largest partner. Additionally, Azerbaijan is a major supplier of fruits and vegetables to Russia. The country ranked first in supplies of fresh and chilled tomatoes.

Russia also played a prominent role in the Armenian-Azerbaijani conflict resolution. The trilateral peace deal signed by the Azerbaijani, Russian and Armenian leaders on November 10, 2020, ended the 30-year conflict between Baku and Yerevan over Azerbaijan’s Karabakh that along with seven adjacent regions came under the occupation of Armenian armed forces in the war in the 1990s.