Azerbaijan and Russia are exploring a number of new cooperation initiatives, particularly in the oil and gas sector, according to Azerbaijan’s Prime Minister Ali Asadov during talks in Baku with his Russian counterpart, Mikhail Mishustin.
“There are several new mutually beneficial initiatives under review. Azerbaijan, as the birthplace of oil and gas, has always prioritized this sector, which remains essential today and will continue to be so in the future. Meanwhile, Russia leads in many areas within the energy sector,” Asadov stated.
He emphasized the positive development of Azerbaijan-Russia cooperation in oil and gas, noting that many major Russian oil and gas companies operate in Azerbaijan. “We have a long-standing and highly productive relationship with these companies,” he added.
Asadov also highlighted Russia’s importance as a partner in Azerbaijan's agricultural sector, involving both the export of Azerbaijani products and the import of Russian agricultural goods. According to Asadov, exports of Azerbaijani agricultural products to Russia grew by over 9% in 2023 and by more than 12% this year. Russia is also a dependable source of wheat for Azerbaijan, with nearly 900,000 tons imported in the first ten months of 2024 alone. Azerbaijan also imports substantial amounts of fertilizers from Russia, totaling 107,000 tons in the first eight months of this year.
The Azerbaijani Prime Minister noted a “strong momentum” in bilateral relations, highlighting Azerbaijan's commitment to strengthening neighborly relations, mutual cooperation, and strategic partnership with Russia. He acknowledged that the August visit by Russian President Vladimir Putin to Baku had provided a boost to economic and trade relations. Based on trade growth trends, Asadov predicted that 2024 could set a new trade record, with bilateral trade reaching $3.5 billion in the first nine months alone.
GSV "Russia - Islamic World"
Photo: Federation Council
Based on TASS materials