Russian Mir cards accepted in 50 ATMs across Azerbaijan

Russian Mir payment cards are now accepted at 50 ATMs in Azerbaijan, Vice Prime Minister Shahin Mustafayev said at the St. Petersburg International Economic Forum, highlighting growing financial integration between the two countries.

Mustafayev was leading the Azerbaijani delegation at the forum, where SOCAR Vice President Elshad Nasirov, responsible for the gas sector, also took part. Nasirov emphasized that cooperation with Russia remains a key pillar of SOCAR’s foreign economic policy.

Mustafayev noted that Baku holds consultations with Moscow on an almost weekly basis, and over 270 bilateral agreements are currently in force. New agreements are being prepared for the next intergovernmental commission meeting, scheduled for August in Astrakhan.

Russia remains one of Azerbaijan’s top three trading partners, with bilateral trade up 9.6% in the first four months of 2025. Export quotas for Azerbaijani agricultural products to Russia are also expected to increase.

Russian investment in Azerbaijan’s non-oil sector has reached $2.7 billion, while Azerbaijani businesses are active in Russia’s health tourism sector, particularly in Yessentuki, Kislovodsk, and Zheleznovodsk.

Azerbaijan has purchased 65 Russian-made subway cars for the Baku Metro and began assembling AvtoVAZ vehicles in 2024, targeting annual output of 5,000 units. Opportunities for joint shipbuilding projects are also under discussion.

Cooperation in pharmaceuticals, chemicals (notably at Sumgayit Chemical Industrial Park), and alcoholic beverages were identified as key areas of growth. Mustafayev praised KamAZ's role in rebuilding liberated territories and invited other Russian firms to invest there.

Russian Deputy Prime Minister Alexei Overchuk said about 1,800 Russian-capital companies operate in Azerbaijan. He highlighted potential in tourism, including the possibility of launching Caspian Sea cruises, and said 18 joint non-oil projects are helping stabilize both economies amid global volatility.

“Azerbaijan-Russia strategic partnership continues to deepen and adapt to evolving global conditions,” Mustafayev said.

N.Tebrizli