According to him, opening of the representative office will be held in the framework of the Azerbaijani-Russian business-forum to launch on Wednesday in Baku, Trend reports.

Apart from this, the head of the bank noted also that the Federal Reserve Corporation is interested in cooperation with Azerbaijan.

Kudimov said, the Corporation commenced its first visits to Azerbaijan since 2001 and during the current visit it has definite ready projects.

"We are looking closely to the Azerbaijan market and are interested in cooperation with the local partners, Kudimov stressed. He also underlined the Corporation plans to be involved in a number of projects jointly with the local entrepreneurs on the Baku real estate market."