BAKU, Azerbaijan, September 26. Deputy Prime
Minister of Azerbaijan Shahin Mustafayev met with Deputy Chairman
of the Government of the Russian Federation Alexander Novak
today.
This is reflected in the statement of the Cabinet of Ministers
of Azerbaijan.
"During the meeting, the current state and prospects for the
development of bilateral relations were discussed, particularly
cooperation in the trade and economic sphere, including industry,
energy, transport and logistics," the statement said.
According to the State Customs Committee of Azerbaijan, trade
turnover between Azerbaijan and Russia amounted to about $2.4
billion in January-August 2026. Azerbaijan's imports from Russia
exceeded $1.57 billion, while exports to Russia amounted to more
than $840 million.
For comparison, bilateral trade turnover between the two
countries stood at $3.3 billion in January-August 2025. Thus, the
volume of trade between Azerbaijan and Russia decreased by
approximately 27.3% year-on-year.
In addition, Russia's foreign direct investment (FDI) in
Azerbaijan amounted to $237.119 million in the first six months of
2026.
According to Trend's calculations based on data from the Central
Bank of Azerbaijan (CBA), this is $107.392 million, or 1.8 times,
higher than in the same period last year. During the reporting
period, Russia's share in the total volume of foreign direct
investment in Azerbaijan stood at 6.5%.
In the first six months of 2025, Russia's FDI in Azerbaijan
amounted to $129.727 million.
Meanwhile, Azerbaijan's FDI in Russia totaled $22.488 million in
the first half of 2026. This represents a decrease of $5.850
million, or 20.6%, compared with the same period of 2025. During
the reporting period, Azerbaijan's share in the total volume of
outward FDI stood at 0.4%.
