Ali Asadov and Mikhail Mishustin discuss key bilateral issues in Baku

In mid-November, a significant meeting took place in Baku between Azerbaijani Prime Minister Ali Asadov and the Chairman of the Government of the Russian Federation Mikhail Mishustin.

It is worth noting that the Russian delegation was in Baku to participate in the COP29 Climate Summit.

During their discussions, key issues of cooperation between Azerbaijan and Russia were addressed, including trade and economic relations, transport infrastructure, and strategic partnership. These talks occurred in the context of ongoing dialogue between the state leaders, particularly following the state visit of Russian President Vladimir Putin to Baku. According to Prime Minister Asadov, this visit "gave a good dynamic to the development of bilateral relations."

"Russia is one of the most important trading partners of Azerbaijan. Trade and economic relations between our countries are developing consistently. Based on the growth rate of trade turnover in the current year, a new record is expected. According to the results of nine months, the trade turnover amounted to $3.5 billion," said Prime Minister Asadov.

The increasing importance of settlements in national currencies in bilateral trade was highlighted, with the Russian side now calculating trade turnover in rubles and manats.

"This is approximately 290 billion rubles or more than 5 billion Azerbaijani manats. Let's see what this year will give us in the end. Indeed, many trade operations are already conducted in national currencies," noted Mishustin.

Interstate cooperation in the field of transport and transit remains a major focus. Prime Minister Asadov mentioned that the total volume of bilateral cargo transportation is steadily increasing, with a more than 5 percent rise over ten months of the current year, exceeding 11 million tons. This growth is crucial for the economies of both countries and the entire region, as stable cargo transportation promotes trade and economic integration.

One key topic was the "North-South" international transport corridor, whose western route passes through Azerbaijan. This corridor aims to increase cargo transportation volume, expand trade flow geography, and access markets in the Middle East, Africa, South, and Southeast Asia via Persian Gulf and Indian Ocean ports.

"The volume of cargo transportation along the corridor is constantly increasing. During the ten months of the current year, the increase was more than 10 percent," said Asadov.

Prime Minister Asadov also highlighted the active participation of Russian companies in renewing the rolling stock of Azerbaijan's railways and the Baku Metro. Metro trains produced by "Transmashholding" SC are successfully operated in Baku's underground transport system, with more than 200 metro cars supplied since 2007. These modern carriages incorporate advanced engineering and design solutions, such as unified transition systems, expanded door openings, modern lighting systems, adaptive lighting, and USB ports for charging devices.

"It was very timely, these carriages were put into service on the line during the COP29 climate summit. We will continue our cooperation in the metropolitan area in this direction," said Asadov.

The heads of government praised the level of industrial cooperation, covering a wide range of bilateral projects. They are discussing several mutually beneficial new initiatives.

The meeting also covered cooperation in energy, agriculture, and pharmaceuticals. Mishustin emphasized that collaboration in these areas will foster deeper mutual relations and create new opportunities for both Russian and Azerbaijani businesses.

Additionally, the expansion of bilateral cooperation in education was announced. Asadov noted that 630,000 Russian tourists visited Azerbaijan in the last ten months, a 20 percent increase compared to the same period last year.

This meeting not only strengthened existing relations but also opened new horizons for cooperation. Both Prime Ministers expressed confidence that their joint efforts will enhance the international standing of both states.