Russia and Azerbaijan regard each other as good neighbors who always keep each other's interests in mind, Russian President Vladimir Putin said Thursday.
BAKU (Pakistan Point News / Sputnik - 27th September, 2018) Russia and Azerbaijan regard each other as good neighbors who always keep each other's interests in mind, Russian President Vladimir Putin said Thursday.
"The relationship between our countries is, no doubt, based on the good neighbor principle and mutual respect. We always look for balance of interests - and find it," he said during his trip to the Azerbaijani capital.
Speaking at a regional forum in Baku, the Russian president praised strong business ties between the two nations, including in energy, agriculture, and infrastructure construction.
Russian business has a stake in nearly 700 companies in Azerbaijan. In agriculture, Russia imported roughly $500 million of Azerbaijani goods last year, up by 12 percent from the year before.
The two countries have also been cooperating on the North-South transport corridor, a multi-mode network they are building together with Iran to connect European and Asian markets.
Putin said he hoped for a closer cooperation with its Caspian Sea neighbor in this resources-rich area, "primarily in transport, cargo traffic, oil and gas exploration, ecology and bio resources."
Russia's Rosneft is working with the State Oil Company of Azerbaijan Republic on developing a new oil field in its part of the Caspian basin, he noted. Another Russian oil major, LUKoil, has invested a hefty $4 billion in energy projects in the country.
Bilateral ties between the two nations were given a fresh impetus with the signing of a raft of deals at a summit of their leaders in the resort city of Sochi on September 1.
"It is essential to keep the momentum in our cooperation that was created... during your visit to Russia," Putin told Azerbaijani President Ilham Aliyev.
Aliyev, in turn, said he regarded Russia as a very important partner, adding he expected Azerbaijan to ramp up its cooperation with Russia in the years ahead.
