The trade turnover between Azerbaijan and Russia grew 23 percent in the first quarter of this year, Azerbaijan’s Economy Minister Shahin Mustafayev said during the 23rd St. Petersburg International Economic Forum (SPIEF) in Russia, Trend reports on June 8.

“Trade relations are developing very successfully,” he said. “Last year, according to our statistics, the growth in trade turnover was about 19 percent. In the first quarter of this year, trade has increased by 23 percent. However, we believe that there is an even greater potential for increasing mutual trade. We look forward to a long-term cooperation. We have agreed that the Russian side will provide us with information about the demand, in particular, for agricultural products for the long term. Thus, we will be able to inform our producers in which segments of Russian market there is demand.”

The minister noted that the Azerbaijani side is ready to ensure production, processing, logistics and do everything necessary together with the Russian side in order to deliver these products to the Russian market in the stipulated time frame and at a qualitative level.

“We will expand and update the infrastructure of two more border posts and all the necessary work will be carried out,” he said. “It is likely that we will meet in Dagestan next week and discuss these issues again. We want to ensure conditions for the most comfortable transportation of goods across the Azerbaijani-Russian border. An agreement on free trade has been signed between our countries, and this gives us great opportunities. In addition, we will come to an agreement with the customs authorities, and an online exchange of information will be ensured. All the certificates necessary for export and import of goods will be sent online.”

Further, the minister spoke about the cooperation between Azerbaijan and Russia in the transport sector, emphasizing the role of the North-South route.

“The North-South International Transport Corridor is already operating,” he said. “Cargo from Russia is delivered to Iran via Azerbaijan and in the opposite direction. Last year, cargo turnover along this route increased more than eight times. This is while in the first quarter of this year, the cargo turnover increased about two times. We believe that the unrealized potential is even greater.”