Baku will host the Azerbaijani-Russian business forum on June 4, the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) said on May 28.
"The event will take place during the visit of the delegations of the Udmurtia and Kaluga region of the Russian Federation to the country," according to the statement. "Azerbaijani entrepreneurs are invited to participate in this event."
Russia is the main trade partner of Azerbaijan in the CIS. Currently, some 570 companies with Russian capital operate in Azerbaijan. The Russian side has recently invested $628.4 million in the fixed capital of Azerbaijan, while Azerbaijani investments in the Russian economy for the past 10 years accounted for nearly $1 billion.
At present, there are intergovernmental commissions among Azerbaijan and four entities of the Russian Federation.
The agreements on cooperation in trade-economic, scientific-technical and cultural spheres were signed with 14 entities.
The trade turnover between Azerbaijan and Russia increased by more than 10 percent - about $ 2.6 billion in 2013. It amounted to $584.08 million for the first four months of this year, according to the Azerbaijani State Customs Committee.