Investment cooperation between Azerbaijan and Russia discussed at Gabala forum

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Makhachkala, June 24, 2014. A round table on "Investment cooperation between Azerbaijan and Russia" was held within the Russian and Azerbaijani forum, a source in the press service of Daghestani Head and government’s administration told RIA "Daghestan". Participants discussed investment potential of Russian regions, ideas of the Azerbaijani and Russian business communities, and the Russian Investment Agency was presented.

One of the speakers, Daghestan Minister of Trade Yussuf Umavov, noted that historically, Azerbaijan has been Daghestan’s main trade partner. The minister enlarged on Daghestan and Azerbaijan joint investment projects realized in the republic: the "Fresh vegetables" greenhouse complex, a production of sulfuric and nitric acids and concentrated mineral fertilizers at "Dagfos" JSC, "Modernizing the narrow-necked container workshop" at "Daghestan Glass Containers" JSC, building the glass production plant "Anji-glass", a continuous basalt fiber plant, a fiberglass pipes complex "Clean Line", a ceramic tile and porcelain granite production using Italian technology and equipment, and some other projects.

"We are creating investment sites as part of providing accessible infrastructure to accommodate productions and other investors’ facilities; we’ve already established 9 investment sites, now we are creating some more," he said.

In conclusion, the minister stressed that Daghestan and Azerbaijan enjoy a great potential of socio-economic interaction, which should be constantly expending within a mutually beneficial cooperation.

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