Putin expressed regret related to drop of bilateral turnover at meeting with Aliyev

Russian President Vladimir Putin on Monday discussed a number of bilateral economic issues with his Azerbaijani counterpart Ilham Aliyev in Saint Petersburg, APA reports.

"Problem we'll discuss today is the Nagorno Karabakh conflict. However, taking advantage of our meeting, I want to speak about bilateral relations. Unfortunately, we are witnessing decline in trade turnover due to known reasons", APA quotes Putin as saying.  The Russian president noted that both leaders know the reason: "The trade turnover declined due to drop of prices on energy carriers and difference between national currencies".  President Ilham Aliyev in turn speaking about Russia-Azerbaijan trade turnover stressed that the dropp is temporary: "We are seeking ways to restore and enhance the trade turnover. I think this will happen. Moreover, we have reciprocal activity in energy field and perspectives in transport cooperation", Aliyev said. 

Meanwhile, earlier at the meeting with Armenia's President Serzh Sargsyan Relations Putin mentioned increase of trade turnover between the two countries.  According to him good indicators were registered in supply of agricultural products. "We register growth of turnover despite all the difficulties in the world and our domestic economy. Supply of agricultural products from the Armenian side has grown significantly, several-fold and we are glad about it. I hope that this trend will be registered in overall turnover and in trade of products sensitive for us", Putin said.

To note, total Russian investments into Azerbaijan's economy make 3 bln USD. According to the Deputy Economy Minister of Azerbaijan Niyazi Safarov more than 600 enterprises with Russian capital are registered in Azerbaijan. From the total Russian investments 235 mln USD was invested in non-petroleum sector of Azerbaijan's economy, while 2.8 billion USD Russia invested in the petroleum sector. At the same time Azerbaijan invested into Russia's economy more than 1 billion USD. In 2015 trade turnover between the two countries made 1.9 billion USD, from which import totaled 1.5 billion and export totaled 0.4 billion USD. In Jan-April 2016 trade turnover between the two countries made 470 million USD. 

At the same time Russian Prime Minister Dmitry Medvedev stated in Yerevan on April 8 that the total amount of accumulated Russian investments remains on high level totaling 4 billion USD. Around 1300 Russian enterprises with Russian capital operate in Armenia. According to the National Statistical Service of Armenia trade turnover between Armenia and Russia in Jan-Apr 2016 totaled 419.5 mln USD. It has grown 1.2% compared to the same period of last year.