The Russian and Azerbaijani authorities will render support to the business circles of the two countries on a reciprocal basis due to the negative consequences of the COVID-19 pandemic, Russian Deputy Minister of Economic Development, Dmitry Volvach said at the event entitled “Business mission of Russian companies under the auspices of ROSEXIMBANK JSC” in Baku.

“The state renders support to entrepreneurs in both countries,” Volvach said. “There are many opportunities for using the complex tools of the Russian Export Center for rendering financial and other services, which gives additional optimism to the implementation of bilateral foreign economic programs.”

“Despite the decline in trade turnover, the positive dynamics was maintained and business support programs played a significant role there,” the deputy minister added.

“The Russian export volume [to Azerbaijan] grew by 2.6 percent while import volume from Azerbaijan by 7.4 percent,” the deputy minister said. “We understand that our countries have big potential to increase the pace of mutual trade and instruments of interaction.”