Relations between Azerbaijan and Russia have reached a level of strategic partnership. Such a positive development is a priority of Azerbaijan's foreign policy, Azerbaijani Economic Development Minister Shahin Mustafayev said at the third Russian inter-regional forum 'Russian-Azerbaijani dialogue-2012' in Baku today.
"A perfect legal framework has been created for the development of these relations," he said. "The countries have signed over 100 agreements."
He added that consistent growth of trade turnover between the countries has been recently observed. As of 2011 Russia ranked third in terms of trade turnover among Azerbaijan's trade partners. It was in first place among the countries exporting goods to Azerbaijan and in fourth place among the countries importing Azerbaijani products.
About 261 enterprises with Russian capital have been registered in Azerbaijan in 2004-2011. Russia's investments in the country have recently totalled $ 400 million.
The minister said that Azerbaijani investments into Russia's economy have amounted to $570 million for the last 10 years.
"Azerbaijan is developing its relations with the regions of the Russian Federation," he said. "These have been established with 70 of 83 federal entities."
Azerbaijani entrepreneurs actively operate in the capital and regions of Russia, particularly in agriculture, construction and other sectors.