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Azerbaijan and Russia intend to create a joint venture in oil and gas sector. Russian Ambassador to Azerbaijan Mikhail Bocharnikov said at a press conference in Baku Dec. 24. Trend reports.
`Our plans envisage creating joint ventures in an effort to organize oil production. On the part of the states. we will support the enterprises. which in their turn will enhance the development of industrial production. It would be better if our enterprises focus on industry in order to promote the diversification and economy of Azerbaijan. including our economic ties.` he said.
Bocharnikov noted that there are plans to set up enterprises for machine building in agriculture.
`We are interested to deliver to Azerbaijan products of our agriculture machinery enterprises. We are ready to create joint ventures on manufacturing such vehicles.` he added.
Russia invested $4.2 billion in Azerbaijani economy in different forms. including in the form of joint ventures.
