He said that two countries' cooperation in banking sector is not satisfactory, APA reports.

Russian Economic Development and Trade Minister German Gref’s visit fostered economic relations between the two nations.

He added that his country also wants Azerbaijan's capital to be invested in Russia's national projects.

"We see progress. An Azeri company intends to take part in reconstruction of Astrakhan port, Azersun Holdings want to establish subsidiaries in Moscow region and cultivate tea in Krasnodar," he added.

Azerbaijan has two banks with state stake- International Bank of Azerbaijan (50.2%) and Kapital Bank (100%).