Baku News

06 October 2006 [15:01] - Interfax - Azerbaijan hopes for long-term business cooperation with Russia, Azeri President Ilham Aliyev told a meeting with Russian Economic Development and Trade Minister German Gref in Baku on Friday. "Our countries' trade has doubled over a short period of time. It will continue to grow. For this reason, we hope for long-term business cooperation and investment," he said. A favorable investment climate in Azerbaijan and the two nations' successful political dialogue will contribute to this task, Aliyev said. "We hope to broaden our relations. That is why your visit is increasingly important," the president said. Bilateral business cooperation has been developing at a rapid pace, Aliyev said. However, the level of business contacts between Russia and Azerbaijan is not as high as the level of their political contacts, Gref said. "The level of political relations between our countries, including your relations with President Vladimir Putin, is slightly higher than the level of economic ties. For this reason, we should step up economic cooperation. Serious work is needed," the Russian minister said.