Putin and Aliyev Discuss $6 Billion Russian Investments in Azerbaijan's Economy

Russian and Azerbaijani leaders discuss $6B in investments, strong economic ties, and regional issues, highlighting their strategic partnership.

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Safak Costu
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Putin and Aliyev Discuss $6 Billion Russian Investments in Azerbaijan's Economy

Putin and Aliyev Discuss $6 Billion Russian Investments in Azerbaijan's Economy

Russian President Vladimir Putin and Azerbaijani President Ilham Aliyev met at the Kremlin in Moscow on Monday to discuss economic cooperation and development between the two countries. The meeting focused on $6 billion in Russian investments in Azerbaijan's economy.

During the talks, Putin noted that trade turnover between Russia and Azerbaijan are developing proactively, with trade turnover reaching over $4 billion. He also stated that Russia has invested $6 billion in Azerbaijan's economy. The two leaders discussed the ongoing work of the intergovernmental commission and collaboration in various sectors, including the real economy and infrastructure.

Why this matters: The meeting between Putin and Aliyev highlights the strong economic ties and strategic partnership between Russia and Azerbaijan. The significant Russian investments in Azerbaijan's economy underscore the importance of this bilateral relationship for both countries.

Aliyev expressed satisfaction with the development of Russia-Azerbaijan relations, stating, "We are very pleased with how our ties are evolving." He noted that the two countries have been working within the framework of the Declaration on Allied Interaction signed in February 2022.

The leaders also discussed the significant role that Heydar Aliyev, the former President of Azerbaijan, played in the implementation of the Baikal-Amur Mainline (BAM) project in Russia. Putin praised the late Azerbaijani President as one of the authors of this major infrastructure project.

Kremlin spokesman Dmitry Peskov emphasized that Azerbaijan is a great friend and ally of Russia, and the two countries have common interests and political will to continue and develop bilateral ties. He stated that Russia and Azerbaijan have significant potential to expand their trade and economic partnership, noting that Russia is Azerbaijan's third-largest trade partner after Italy and Turkey.

The meeting between Putin and Aliyev took place against the backdrop of the completion of the Russian peacekeeping mission in Nagorno-Karabakh, which was a joint decision by the two countries' leadership. The Russian peacekeeping contingent, deployed in Nagorno-Karabakh based on a 2020 trilateral agreement, has now begun its withdrawal.

The talks in Moscow focused on key issues for the further development of the Russian-Azerbaijani strategic partnership and alliance, as well as an exchange of views on current regional matters. The visit is part of the regular political dialogue between the two countries, with no new documents expected to be signed due to the already extensive and solid contractual and legal base of the relationship.

Key Takeaways

  • Putin, Aliyev discuss $6B Russian investments in Azerbaijan's economy.
  • Russia-Azerbaijan trade turnover reached $4B, with $6B in Russian investments.
  • Leaders praise strong economic ties and strategic partnership between countries.
  • Russia and Azerbaijan have common interests and political will to develop ties.
  • Meeting focused on key issues for further development of strategic partnership.