OREANDA-NEWS. December 7, 2007. Russian Government is displeased with volume of Russian investments into Azerbaijan.

Yuriy Schedrin, Russian Trade Representative in Azerbaijan, informed today at the session Caspian Integration Business Club (CIBC), that investment level of Russian companies into Azeri economy is negligibly small.

“For 10 months of 2007, it hardly exceeded $8 million though 308 companies with Russian stake function in Azerbaijan. Most of them (193 companies) were founded with 100% Russian capital,” Y.Schedrin said.

At the same time, according to his words, there is a large space for growth in Russian-Azerbaijan relations.

“The main reserve for growth is development of regional relations between our countries. Thus, Uralian colleagues offered to hold several joint business exhibitions in Azerbaijan and Ural next year. Renewal of railway freight train and tanker fleet in Azerbaijan, IT development, space researches, especially planned by Azerbaijan satellite launching present big opportunities to Russian companies,” Y.Schedrin said.

Russia also greets Azeri investments into its economy.

“There are a lot of possibilities for that. For example, Azeri companies could participate in construction of second line of Volga-Don canal, highways in Russia to Black Sea,” Y.Schedrin said.

At the same time, Vasiliy Istratov, Ambassador of Russia in Azerbaijan.