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Azerbaijan-Russia Business Forum held

The delegation headed by the Prime Minister of the Republic of Ingushetia of the Federation of Russia Musa Chiliyev paid a visit to the Alley of Honour to commemorate Great Leader Heydar Aliyev, laid a wreath at the monument on. They also paid a visit to the tombs of the renowned ophthalmologist, Academician Zarifa Aliyeva. As well, the guests laid a wreath at the Eternal Fire memorial complex erected at the Alley of Martyrs in honour of those who died for the country's independence.
On the same day the delegation headed by the Prime Minister of the Republic of Ingushetia of the Federation of Russia Musa Chiliyev met with the Minister of Economic Development Shahin Mustafayev. Prior to the meeting, the guests got acquaintance with the exhibition dedicated to the economic achievements of Azerbaijan in Baku Business Centre. The Minister of Economic Development Shahin Mustafayev gave detailed information about major progress achieved in socio-economic and other spheres of Azerbaijan within the last decade.
Then the Minister Shahin Mustafayev accentuated that Azerbaijan attaches great importance to boosting the ties with Russia and the political relations between Azerbaijan and Russia are at a high level at the meeting held with the delegation headed by the Prime Minister of the Republic of Ingushetia of the Federation of Russia Musa Chiliyev. Furthermore, the Minister Shahin Mustafayev noted that the cooperation between Azerbaijan and Russia was established on the principles of mutual respect and cooperation, and emphasized the importance of mutual visits of heads of state in the development of relations. It was noted that, today Russia is one of the major trade partners of Azerbaijan and currently, Azerbaijan successfully cooperates with 71 regions of 83 federal subjects of Russian Federation in various fields. The prospects for the development of regional cooperation, trade expansion, investment and other issues of mutual interest were discussed at the meeting. Moreover, the Minister Shahin Mustafayev spoke about continuous and sustainable economic development in Azerbaijan.
The Prime Minister of the Republic of Ingushetia of the Federation of Russia Musa Chiliyev the both countries have great potential for further development of economic ties. The Prime Minister Musa Chiliyev expressed his satisfaction with the expansion of cooperation with the regions of Russia, as well as Republic of Ingushetia.
Then the Azerbaijani-Russian business forum was organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) with the support of the Ministry of Economic Development in Baku Business Centre. Along with officials, the representatives of the companies operating in industry, agriculture, ICT, financing, energy, banking, consulting and other sectors took part in the forum.
Welcoming the guests Economic Development Minister Shahin Mustafayev highlighted that the political relationship between the two countries is at a high level. It was noted that strong contractual-legal base was established between our countries, and more than 100 agreements were signed in economic sphere.
Russia invested $468 million in Azerbaijan's economy and Azerbaijan invested $563 million in Russian economy during last decade. For the present, 479 Russian companies operate in Azerbaijan. The trade turnover between Azerbaijan and Russia has increased by 38% during the first 5 months of this year.
It was highlighted that, according to the instruction of the President of the Republic of Azerbaijan Mr.Ilham Aliyev, the delegation headed by the minister of Economic Development Shahin Mustafayev was on a visit to Russian Federation's North Caucasus region (Dagestan, Chechenstan, Ingushetia, North Ossetia-Alania, Garachay - Charkas, Gabardine- Balkaria, and Stavropol region) in November of 2011. 12 business-forums, meetings and exhibitions were held with Russian subjects during past 3 years. Today's business forum is the next step in further expansion of the current relations between Azerbaijan and regions of the Federation of Russia.The Prime Minister of the Republic of Ingushetia Musa Chiliyev pointed out that Ingushetia is also interested in boosting relations with Azerbaijan. Furthermore, the Prime Minister spoke about investment opportunities of Ingushetia.
The head of AZPROMO Rufat Mammadov and Deputy Prime Minister of Ingushetia Pavel Pushin made presentations on economy, business and investment opportunities of Azerbaijan and Ingushetia.
Head of the Tourism Committee of the Republic of Ingushetia Batir Malsagov made a video presentation on "The Republic of Ingushetia: new opportunities for relax and tourism".
The delegation headed by the Prime Minister of the Republic of Ingushetia of the Federation of Russia reviewed with the activities of some facilities.