Mustafayev: Azerbaijan - reliable economic partner for Russia

Azerbaijan is a reliable partner for the Russian Federation, open to productive dialogue and mutually beneficial cooperation as both a bilateral and multilateral partner, Azerbaijani Deputy Prime Minister Shahin Mustafayev said at a meeting of the Azerbaijan-Russia Business Council in Baku, Report informs.

"Azerbaijan and Russia are linked by past trade and economic relations, which create the foundation for further strengthening bilateral cooperation. We are confident that, building on the successes already achieved, we can achieve new significant results through joint efforts. Azerbaijan is a reliable partner, open to productive dialogue and mutually beneficial cooperation as both a bilateral and multilateral partner," Mustafayev noted.

He added that as of April 1, 2026, more than 2,100 commercial entities with Russian capital were registered in Azerbaijan, over 1,400 of which were actively operating.

"They are represented in key sectors of the economy, including industry, agriculture, transport, construction, trade, pharmaceuticals, and services. Direct investment from Russia to the Azerbaijani economy amounted to $10.7 billion, including $2.9 billion in the oil and gas sector," the deputy prime minister emphasized.

Mustafayev also called on Russian companies to "be more actively involved" in implementing investment projects in the liberated Azerbaijani territories.