Interesting proposal by Emin Agalarov, Chairman of the Azerbaijan-Russia Business Council
On April 17, 2026, an expanded meeting of the Azerbaijan-Russia Business Council was held at the resort town "Sea Breeze" located in Baku.
Musavat.com reports that government representatives and business community members from both countries attended the event.
The meeting brought together the main participants of bilateral economic cooperation, becoming an important platform for discussing the prospects of joint projects.
The meeting was opened by the Deputy Prime Minister of Azerbaijan, Shahin Mustafayev, who emphasized that relations between the two countries have a strategic nature. According to him, Azerbaijan and Russia are united by strong trade and economic ties, which form the basis for further deepening cooperation. He noted that, according to the results of 2025, the trade turnover between the two countries exceeded 4.9 billion US dollars, demonstrating a steady positive dynamic.
The presentation paid special attention to Azerbaijan’s investment opportunities, particularly projects implemented in the liberated territories. It was reported that a special tax regime is applied in these areas for a period of 10 years. Shahin Mustafayev called on Russian companies to participate more actively in these projects.
It was emphasized that Azerbaijan and Russia are strategic partners. The favorable environment created by the heads of state has formed a solid foundation for expanding trade and economic cooperation. A high level of mutual activity already exists, and broad potential remains to further develop this cooperation.
The Azerbaijani government has established a competitive and favorable business environment in the country. Industrial parks are rapidly developing, and free economic zones offering extensive opportunities and concessions for investors are being created.
Within this context, Shahin Mustafayev urged the members of the Business Council to use the existing opportunities more actively and to strengthen joint efforts to increase trade turnover and expand investment cooperation.
Aleksey Overchuk, Deputy Chairman of the Government of the Russian Federation, highly appreciated the favorable conditions created for business activities in Azerbaijan and emphasized the attractiveness of the free economic zones. He also noted that new opportunities are expanding for Russian manufacturers within the framework of the "North-South" international transport corridor and highlighted Azerbaijan’s key role in the development of transport infrastructure and logistics solutions.
During the meeting, Emin Agalarov, Chairman of the Board of the Azerbaijan-Russia Business Council and President of the "Agalarov Development" company, presented a report on the Council’s activities and showcased the investment potential of the "Sea Breeze" project. He thanked the participation of the Deputy Prime Ministers of both countries, stating that this confirms the high level of strategic partnership and creates new opportunities especially in tourism and investment fields.
Emin Agalarov proposed an initiative for further development of business cooperation by creating a permanent dialogue platform between entrepreneurs of the two countries. He stated: "Today, it was announced that bilateral relations between Azerbaijan and Russia have been fully restored. Cooperation will contribute to the advancement of tourism, investment funds, and other development directions. On behalf of the Azerbaijan-Russia Business Council, I propose that a business forum be held annually at "Sea Breeze". This platform will serve to strengthen trade ties, expand dialogue among entrepreneurs, and deepen economic relations."
Aleksey Repik, Chairman of the "Business Russia" All-Russian public organization, noted the positive dynamics of cooperation and broad prospects for joint activities. Highlighting the special atmosphere of Sea Breeze, he stated that returning here is a real celebration for him and that this place shows great potential for the development of investment, economic, and trade cooperation.
Yusif Abdullayev, Executive Director of "AZPROMO," noted that the logo of the Business Council symbolizes the infinity of cooperation. According to him, despite certain difficulties in relations, economic and strategic partnership between the two countries has a stable and long-term character.
The development of tourism cooperation was also a special focus. Fuad Naghiyev, Chairman of the State Tourism Agency of Azerbaijan, stated that Russia remains one of the main tourism markets for Azerbaijan. Starting from 2024, the tourism representation operating in Moscow and the Roadmap signed for 2024–2026 provide a basis for further increase in tourist flows.
Within the meeting framework, the results of the previous day’s session of the Azerbaijan-Russia Intergovernmental Commission were also presented. The parties discussed prospects for expanding cooperation in transport, investment, and industrial sectors.
As a practical outcome of the meeting, a cooperation agreement was signed between the "Khimgrad" technopolis, the "NexTouch" group of companies, and "Neks-T" CJSC. The agreement envisages the implementation of an investment project for the production of interactive equipment, displays, software and hardware, as well as technological solutions for people with disabilities, on the territory of the Sumgait Industrial Park.