OREANDA-NEWS. June 28, 2012. The delegation led by Deputy Chairman of the Government of Kabardino-Balkaria Republic of Russian Federation Kazim Uyanaev is on visit to Azerbaijan. The delegation consisted of the heads of the ministries and enterprises of the Republic of Kabardino-Balkaria of the Russian Federation.

On June 19, the delegation led by Deputy Chairman of the Government of Kabardino-Balkaria Republic of Russian Federation Kazim Uyanaev visited the Alley of Honor to commemorate Great Leader Heydar Aliyev, laid a wreath at the monument. They also paid a visit to the tombs of the renowned ophthalmologist, Academician Zarifa Aliyeva. As well, the guests laid a wreath at the Eternal Fire memorial complex erected at the Alley of Martyrs in honor of those who died for the country's independence.

Then the delegation led by Deputy Chairman of the Government of Kabardino-Balkaria Republic of Russian Federation met with the minister of Economic Development Shahin Mustafayev. The perspectives of boosting cooperation between the two countries, as well as between Azerbaijan and the regions of the Russian Federation and investment opportunities were discussed at the meeting. The minister Shahin Mustafayev stressed that the head of the state attached great importance to expansion of relations with the Russian Federation and the political relations between Azerbaijan and Russia were at the high level. It was noted that strong contractual-legal base was established between our countries, and more than 100 agreements were signed. There is favorable climate for further expansion of economic cooperation. Currently, Azerbaijan cooperates with more than 70 regions of Russian Federation and these ties further expand. The visit of the delegation of Kabardino-Balkaria Republic of Russian Federation to Azerbaijan contributes to boost economic cooperation between the two countries.

At the same day Azerbaijan-Russian business forum was organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) with the support of the Ministry of Economic Development.

Niyazi Safarov, the deputy minister of Economic Development gave information on social-economic achievements of our country. It was noted that Azerbaijan became a dynamically developing country, the entrepreneurship was expanded, investment and business climate improved pursuant to the social-economic reforms pursued by the President of Azerbaijan Republic Mr. Ilham Aliyev. The large-scale works paved the way for further increasing economic opportunities of our country. Consequently, Azerbaijan had already become the exporter of investment. It was highlighted that, according to the instruction of the President of the Republic of Azerbaijan Mr.Ilham Aliyev, the delegation headed by the minister of Economic Development Shahin Mustafayev was on a visit to Russian Federation's North Caucasus region (Dagestan, Chechenstan, Ingushetia, North Ossetia-Alania, Garachay - Charkas, Gabardine- Balkaria, and Stavropol region) in November of 2011. It was stressed that this business forum was the next step in further widening economic ties between Azerbaijan and the regions of the Russian Federation.

Deputy Chairman of the Government of Kabardino-Balkaria Republic of Russian Federation Kazim Uyanaev emphasized that his country was interested in expanding ties with Azerbaijan, and gave information on expansion of cooperation in different sectors and investment opportunities into Kabardino-Balkaria Republic.

AZPROMO president Adil Mammadov delivered a presentation on business and investment climate of Azerbaijan. The representative of AZPROMO Azer Huseynov made a presentation on the activity of this agency.

The information on the development opportunities of cooperation between the Republic of Azerbaijan and Kabardino-Balkaria Republic of Russian Federation, the importance of importance of business forums, business-like meetings in development of the relations was stressed at the forum.

Throughout the forum the presentations on economy, business and investment climate opportunities of Azerbaijan and Kabardino-Balkaria Republic of Russian Federation were made in the event.

The event was followed by bilateral meetings. The business-like ties development perspectives were discussed at the meetings.

Within the framework of the visit Kabardino-Balkaria delegation will hold several official meetings and will get acquaintance Sumgait Technologies Park and some manufacturing enterprises.