Azerbaijan and Russia sign three business agreements

Azerbaijan and Russia have signed three business agreements.

Report informs that the signing ceremony took place today at the Azerbaijani-Russian business forum during the visit of Russian Minister of Industry and Trade Denis Manturov to Baku.

The three signed documents include an agreement on cooperation and organization of relations between the Rostselmash Combine Plant and the Sumgayit Technological Park, a memorandum of cooperation between Transmashholding and the Sumgayit Technological Park, and a memorandum of intent regarding the implementation of fencing systems between AzOkso LLC (SP) and Service Invest (Azerbaijan).

Up to now, Russia has invested about $ 4.2 bln in the economy of Azerbaijan, and Azerbaijan has invested over one billion dollars in the economy of the Russian Federation.

Currently, more than 750 joint ventures operate in Azerbaijan, with nearly 300 having 100% of Russian capital and over 450 of a joint venture format.