Translation. Region: Russian Federal
Source: Government of the Russian Federation – Government of the Russian Federation –
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The 23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan was held in Astrakhan under the joint chairmanship of Deputy Prime Minister of the Russian Federation Alexey Overchuk and Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev. Representatives of relevant structures of the two countries took part in the event.
The parties discussed the results of work on implementing the decisions of the 22nd meeting of the commission, held in Baku on August 8-9, 2024, as well as the progress of the action plan for the development of key areas of Russian-Azerbaijani cooperation for 2024-2026. They analyzed the entire range of bilateral trade, economic, cultural and humanitarian relations and outlined guidelines for further work.
During the meeting, the Deputy Prime Minister emphasized that Russian-Azerbaijani relations are mutually beneficial. Among the priorities, Alexey Overchuk noted joint work on developing transport connectivity in the region, strengthening the independent financial architecture in mutual settlements, cooperation in the energy sector, development of industrial cooperation, including in the field of shipbuilding, agriculture, and cooperation in the Caspian Sea.
Russia is one of the key economic partners of Azerbaijan, ranking third in the republic's foreign trade. In mutual trade, the countries rely on national currencies. In January-May 2025, the Russian ruble prevailed in settlements under foreign trade contracts for trade in goods between residents of Russia and Azerbaijan, its share amounted to 79.8%.
There are about 1800 companies with Russian capital on the market of the Republic of Azerbaijan. Russian companies implement investment projects, including in the field of mechanical engineering, construction, transport, chemical, pharmaceutical and medical industries.
"This year, the project to localize insulin production in Azerbaijan with a design capacity of 250 thousand packages per year was successfully completed and the first shipment of products was made. There is scope to expand the range of manufactured medicines. Also this year, it is planned to commission a plant for the production of aluminum and steel composite panels. Significant cooperation is developing in the automotive industry. A number of well-known Russian automakers are present in Azerbaijan. A major project in the field of public transport development is being successfully implemented – the delivery of 65 cars for the Baku Metro by 2026," the Deputy Prime Minister noted.
The meeting participants noted the high level of interregional cooperation – 72 subjects of the Russian Federation maintain trade and economic relations with the Republic of Azerbaijan, and since the beginning of 2025, the regions of the two countries have held 12 joint events. The format of interregional forums was named as one of the important platforms for the development of such cooperation during the meeting.
Alexey Overchuk named the development of the transport industry and joint activities to strengthen transport connectivity in the region as a strategic area of work.
"In this work, we pay special attention to the development of the North-South ITC and the implementation of all agreements reached with our Azerbaijani colleagues. In order to roll out the route, the railways of Russia, Azerbaijan and Iran are jointly working on the technology, including multimodal container service, and discounts on railway tariffs are being applied," the Deputy Prime Minister noted.
"We aim to continue cooperation on the development of the North-South ITC both in bilateral and trilateral formats together with our colleagues from Iran. We also see good prospects for launching cruise service on the Caspian Sea with the possibility of tourists visiting the seaports of the Caspian states with the participation of passenger ships under the Russian flag. Today we considered this issue and agreed to promote the development of cruise shipping and tourism in the Caspian Sea region," the Deputy Prime Minister noted.
Following the meeting, the IGC co-chairs signed the final protocol of the 23rd meeting of the Intergovernmental Commission on Economic Cooperation between the Russian Federation and the Republic of Azerbaijan.
The parties confirmed their readiness to continue constructive dialogue aimed at strengthening Russian-Azerbaijani relations in all areas of cooperation.
The Deputy Prime Minister thanked the Governor of the Astrakhan Region Igor Babushkin for the high level of preparation and holding of the meeting, and also noted the significant contribution and active role of the Astrakhan Region in the development of interregional cooperation between the two countries, saying that the city where the meeting is held is symbolic, which is emphasized by the monument to the first President of the Republic of Azerbaijan Heydar Aliyev, erected in 2010 as a sign of strengthening friendship and economic ties between the countries.
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