OREANDA-NEWS. October 4, 2011. The Azerbaijan-Russia Business Forum has been held today in Baku within the framework of the visit of Deputy Prime Minister and Representative of the President of Russia in the North Caucasus Federal District Alexander Khloponin.

Addressing to the forum, Khloponin has stated that the North Caucasus Federal District is ready to take advantage of Azerbaijan’s experience of development of territories and the economy.

"The district uses the most advanced tools for encouraging investments and development - government guarantees and investment insurance, which does not exist in no one region of Russia. The North Caucasus Development Corporation was established,” Khloponin said.

In this regard, he invited the Azerbaijani investors to make investments in the region.

In turn, Minister of Economic Development Shahin Mustafayev said that the Azerbaijani business had already launched such investments.

"Azersun Holding has built a tea-packing factory, and company Metanet A laid the foundation of a plant for production of paints in Sochi," Mustafayev said.