"It is planned to hold a business-forum of Russian and Azerbaijani entrepreneurs in the large, as well as meetings between the state bodies of the two countries. Besides, a meeting of the Intergovernmental commission on economic cooperation, sizing up of results of cooperation in 2005 and discussion of different issues, in particular, a strategy of the two countries are on schedule," Abbasov underlined.

As of preliminary data, the Year of Russia in Azerbaijan will be more probably opened in the first quarter of 2006, while the official opening ceremony will be approximately staged in February. Under Putin’s visit to Azerbaijan they could organize the 2nd Baku economic Forum, targeting the expansion of the economic relationships between Russia and Azerbaijan.

The first Baku Economic Forum, directed at the expansion of economic relationships between Russia and Azerbaijan, was held in May 2004.

The Deputy Premier also noted that Azerbaijan could open its commercial representation in Russia more probably in 2006.

As to the Russian government’s resolution on opening of some commercial representation in different countries, including Azerbaijan Abbasov underlined that every innovation directed at the improvement of the bilateral economic cooperation would promote increase, growth and proximity in the relationships.

Abbasov noted as of 2005 it is planned to implement plans outlined in the protocol of the intergovernmental commission, which was undersigned early 2005.

"It concerns increase of goods turnover between Russia and Azerbaijan to $1bn. Through the end of the year the figure promote the real amount of goods turnover between Russia and Azerbaijan," he underlined.

The Russian embassy said that they want to raise the goods turnover between the two countries to $1bn. "If several years ago the goods turnover between Russia and Azerbaijan made up only $300m, in 2005 we hope to increase it to $1 billion," the same source underscored.

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