Baku, Moscow Aim to Boost Cooperation in Oil and Gas Sector

"Russia is an important partner for us in the agricultural sector," Asadov said.

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Azerbaijan and Russia are considering a number of new initiatives for cooperation, particularly in the oil and gas sphere, Prime Minister of Azerbaijan Ali Asadov said during talks with his Russian counterpart Mikhail Mishustin.

"A bunch of new mutually beneficial initiatives are being considered by the parties. Azerbaijan is the homeland of oil and gas, <...> this [area - TASS] was on the agenda yesterday, it is there today and will be there for a long time to come. Russia is a leader in many energy spheres," Asadov said, The Caspian Post reports, citing TASS. 

Cooperation between the two countries in the oil and gas sphere deserves particular mentioning, the prime minister of Azerbaijan said. "Our interaction is evolving positively here, across the board," he noted, adding that a number of Russian oil and gas majors are working in the country. "We traditionally have very fruitful cooperation with these companies," Asadov said.

"Russia is an important partner for us in the agricultural sector," he continued. "This pertains to exports of our produce and imports of Russian agricultural products by Azerbaijan," Asadov said.

Agricultural exports from Azerbaijan to Russia surged by more than 9% as of the end of 2023 and are up 12% this year, the Prime Minister of Azerbaijan said. "Russia remains a reliable partner. We are importing at least one million metric tons from Russia and the figure will be almost 900,000 metric tons as of the end of ten months of 2024," he noted. Azerbaijan is importing many fertilizers from Russia. "We imported 107,000 metric tons over the first eight months of this year," Asadov said.

Azerbaijan’s Prime Minister highlighted "good dynamics" in bilateral relations with Russia. "Azerbaijan focuses on further strengthening and building good-neighborly relations and strategic partnership with Russia," he stressed.

"Based on the growth dynamics of mutual trade, we anticipate a new record to be set: according to our data, trade turnover totaled $3.5 bln at the end of the first nine months of this year," Asadov said.