Russian enterprises filed 17 proposals to construct projects in Azerbaijan-controlled teritorries in Nagorno-Karabakh, according to Deputy Prime Minister Shahin Mustafayev. He made the statements at the Intergovernmental Commission on Economic Cooperation between Russia and Azerbaijan's plenary session.

According to Mustafayev, Russian enterprises have a strong chance of participating in Azerbaijan's industrial park initiatives. He said that the KAMAZ PJSC service centre in the Jabrayil area is now under development, and that the factory is expected to be fully operational in July 2022. "In addition, new Azerbaijan-Russia investment contracts are being negotiated," he added. Azerbaijani businessmen completed several projects in Russia, including the construction of a sanatorium, according to the deputy prime minister.

Furthermore, Russia has supplied primary data on two projects in Azerbaijani-controlled areas in Nagorno-Karabakh. He stated that the projects include a 100 MW ground wind power plant and a project of small hydroelectric power plants with a combined capacity of up to 20 MW. "Azerbaijan is striving hard to develop renewable energy. In terms of renewable energy sources, [Nagorno-]Karabakh and East Zangezur have a lot of promise. Contacts with the Russian side for cooperation in this area are underway," he stated. Emphasising that Azerbaijan and Russia are opening new opportunities for cooperation in the transport and logistics field, Mustafayev added that the rapid growth of road transport necessitates improving checkpoints at the state border. "We attach priority importance to the development of the North-South transport corridor. The launch of the project at full capacity will contribute to the development of the region and the growth of trade and transit," he said. He stated that efforts are being made to coordinate the functioning of checkpoints on the Russian-Azerbaijani border. He said that the prompt completion of work on the renovation and extension of the Yarag-Kazmalyar-Samur checkpoint will add to the positive dynamics of bilateral foreign trade turnover. "By increasing the number of freight transport lanes at the Yarag-Kazmalyar-Samur border to six, we were able to boost the throughput capacity of the busiest checkpoint between our nations," he explained.

According to him, trade turnover between Russia and Azerbaijan reached $631 million in the first quarter of 2022, a rise of 8% over the same time last year. In this respect, he pointed out that Russia is Azerbaijan's third-largest commercial partner, and its first in terms of non-oil exports. The deputy prime minister also mentioned that the two nations' trade turnover climbed by more than 12% in 2021, reaching $3 billion. "We expect that this upward trend will continue until 2022, and that we will be able to achieve even greater outcomes," he stated.