Baku: Over 2,100 companies with Russian ties have been registered in Azerbaijan, highlighting the robust economic relationship between the two countries. Russia remains a key trading partner for Azerbaijan, significantly contributing to the country’s foreign trade turnover, as stated by Deputy Prime Minister Shahin Mustafayev during a meeting of the Azerbaijan-Russia Business Council.
According to Azeri-Press News Agency, last year saw the trade turnover between Azerbaijan and the Russian Federation surpassing 4.2 billion US dollars, showing consistent growth. The Russian market emerged as a primary destination for Azerbaijan’s non-oil exports, with agricultural exports to Russia exceeding 837 million US dollars in 2025. Fruit and vegetable exports grew by approximately 31%, while imports of agricultural products from Russia surpassed 830 million US dollars.
Azerbaijani companies are actively participating in significant sectoral exhibitions in Russia, emphasizing the high export potential of Azerbaijani products and the intent to strengthen their presence in the Russian market. Investment cooperation is a critical element of the Azerbaijan-Russia agenda. As of April 1, 2026, Azerbaijan hosts more than 2,100 commercial structures with Russian capital, over 1,400 of which are operational, spanning key economic sectors such as industry, agriculture, transport, construction, trade, pharmaceuticals, and services.
Deputy Prime Minister Mustafayev noted that direct investments from Russia into Azerbaijan’s economy have reached 10.7 billion US dollars, with 2.9 billion dollars allocated to the oil and gas sector. The collaboration between the two nations is particularly evident in the industrial sector, where joint projects with leading Russian manufacturers are being implemented. Azerbaijan has organized the production and assembly of various automotive equipment, including buses, trucks, and passenger cars.