Azerbaijan, Russia are leaders in economic partnership in S.Caucasus: head of the Center for Strategic Studies

"The Azerbaijan-Russia economic relations are one of the most important fields of the complex inter-state relations with sustained growth dynamic. Azerbaijan and Russia hold a regional leadership in economic and trade relations in the South Caucasus," Nuriyev told journalists on Oct. 20 after the conference he attended in Moscow within the Azerbaijani delegation.

A joint project of the Russian Institute for Strategic Studies and the Center for Strategic Studies under the Azerbaijani President was held in Moscow from October 14-17. The theme of the round table was "Russia - Azerbaijan: development perspectives of bilateral relations."

Director of the Institute of Philosophy, Law and Sociology Ilham Mammadzade, employee of department of political analysis and public relations of the presidential administration Farhad Mammadov, independent expert Rasim Musabeyov also participated in the conference as part of the Azerbaijani delegation.

All aspects of political, economic, cultural and humanitarian cooperation between Russia and Azerbaijan were discussed during the round table in the Russian Institute of Political Studies

Special attention was placed on discussions over current state of the Azerbaijani-Russian relations.

Nuriyev said that over the past decade, Russia and Azerbaijan was able to overcome the disintegration processes of 1990s and increase an annual volume of mutual trade.

In 2007, the trade turnover between Azerbaijan and Russia amounted to more than $1.5 billion. Imports from Russia were more than $1 billion, while exports to Russia exceeded $0.5. In 2008, the turnover increased nearly to $2 billion.

The conference also noted that currently both Azerbaijan and Russia attach great attention to the regional development and creation of direct inter-regional relations. Azerbaijan has economic relations with 72 of total 82 entities of Russia, with 9 having mutual trade turnover with Azerbaijan in the amount of at least $100 million each. These are Moscow, the Moscow region, St. Petersburg, Stavropol, Sverdlovsk and Samara oblasts, Tatarstan and Dagestan.

Nuriyev said as a result of the global financial crisis in the first half of 2009 (January to May), Russia and Azerbaijan failed to maintain the level of economic interaction, which was hit in 2008. According to Nuriyev, the Azerbaijan-Russia trade turnover slightly decreased compared to the decrease in trade turnover between Russia and other CIS countries and this can be regarded as positive development.

"All is known in comparison," Nuriyev said.

According to Nuriyev, there are favorable prospects of trade growth due to the resumption of gas cooperation.

"The resumption of gas cooperation is very positive and thanks to this trade between the two countries could be increased by $500 million in the next two years," Nuriyev said.

At the first stage the volume of gas deliveries will amount to 500 million cubic meters a year, but this figure may increase in future, Nuriyev added.

/Trend News/