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Tuesday, September 19, 2017

Azerbaijan, Russia eye cooperative investment plan

Russian Deputy Prime Minister Arkady Dvorkovich said Tuesday that a cooperative investment agreement of between the federation and Azerbaijan is likely to begin in the first half of 2015.

According to the Eurasian Development Bank, the five-year investment agreement would focus on the two countries' energy systems and sectors. The investment platform would connect the Azerbaijan State Oil Fund and the Russian Direct Investment Fund.

"We are working on several documents, on which we have agreed to step up the coordination of technical issues in an effort to sign them in the first half of the year," Dvorkovich said. "Such agreements are the basis for economic projects in the trade and investment sphere."

It was earlier reported that the Ministry of Natural Resources expects to cut the nation's oil and natural gas exploration efforts.

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Eurasian Development Bank 220 Dostyk ave., Almaty, 050051, Republic of Kazakhstan

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