Azerbaijan-Russia Business Council an expanded meeting in Sea Breeze

On April 17, 2026, an expanded meeting of the Azerbaijan-Russia Business Council was held in the resort town of Sea Breeze in Baku, attended by representatives of the governments and business communities of both countries. The event brought together key players in bilateral economic cooperation and served as an important platform for discussing the prospects of joint projects.

The meeting was opened by Shahin Mustafayev, Deputy Prime Minister of the Republic of Azerbaijan, who emphasized the strategic nature of relations between the two countries. According to him, Azerbaijan and Russia are linked by strong trade and economic ties that form the basis for further deepening cooperation. He noted that by the end of 2025, trade turnover between the countries exceeded $4.9 billion, demonstrating steady positive growth.

Special attention in the speech was given to investment opportunities in Azerbaijan, including projects in the liberated territories, where a special tax regime is in effect for a period of 10 years. Shahin Mustafayev called on Russian companies to participate more actively in the implementation of these projects.

Azerbaijan and Russia are strategic partners. The heads of state have established favorable conditions for expanding trade and economic cooperation between our countries. A significant level of cooperation has already been achieved, and there is considerable potential for its further development.

The Government of Azerbaijan has created a favorable and competitive business environment. Industrial parks are being actively developed in the country, and free economic zones are being established, offering investors broad opportunities and incentives.

In this regard, Mr. Mustafayev called on the participants of the Business Council to make more active use of the existing conditions and opportunities, as well as to intensify joint efforts aimed at increasing trade turnover and expanding investment cooperation between the two countries.

Deputy Prime Minister of the Russian Federation Alexey Overchuk noted the favorable business environment in Azerbaijan, highlighting the appeal of the free economic zones currently being established. He also highlighted the expanding opportunities for Russian manufacturers within the framework of the “North-South” international transport corridor, emphasizing 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 Agalarov Development, presented a report on the council’s activities and outlined the investment potential of the Sea Breeze project. He thanked the deputy prime ministers of both countries for participating in the meeting, which reaffirms the high level of strategic partnership between the countries and creates additional conditions for the development of business initiatives, including in the fields of tourism and investment.

Emin Agalarov also proposed further developing business cooperation and suggested establishing a new regular platform for dialogue between entrepreneurs from both countries. In particular, he noted: “It was announced today that we have achieved a full restoration of bilateral relations between Russia and Azerbaijan. This cooperation will help promote tourism, investment funds, and other areas of development in both countries. On behalf of the Azerbaijan-Russia Business Council, I propose holding an annual business forum at Sea Breeze. We are confident that this will contribute to strengthening trade ties. Such a platform will be useful for developing dialogue among entrepreneurs and deepening bilateral economic relations.”

In 2026, the project will celebrate its 20th anniversary—during this time, it has evolved from the idea of a resort village on the Caspian Sea coast into one of the largest private development and lifestyle projects on the European continent, where architecture, infrastructure, nature, technology, and the cultural environment form a unified ecosystem. As Emin Agalarov emphasized, the development of the territory continues.

Alexey Repik, Chairman of the All-Russian Public Organization “Delovaya Rossiya,” noted the positive momentum in our cooperation and the promising prospects for our joint work. He also highlighted the unique atmosphere of Sea Breeze, remarking: “I simply had to come, and for me, returning here after nearly a year and a half away is a true celebration. It is especially pleasant that it is taking place at the traditionally hospitable Sea Breeze, where everything—from the weather to the smiles of our Azerbaijani partners—testifies to the significant potential for developing investment, economic, and trade cooperation with Russia.”

AZPROMO Executive Director Yusif Abdullayev drew attention to the symbolism of the Business Council’s logo, which reflects the endless nature of cooperation. According to him, despite temporary difficulties in relations, the economic and strategic partnership between the two countries remains stable and long-term.

Special attention was paid to the development of tourism cooperation. Fuad Nagiyev, Chairman of the State Agency for Tourism of Azerbaijan, noted that Russia remains one of the country’s key tourism markets. Azerbaijan’s tourism office in Moscow, which has been operational since 2024, as well as the signed Roadmap for 2024–2026, lay the foundation for further growth in tourist traffic.

During the meeting, the results of the Azerbaijan-Russia Intergovernmental Commission meeting held the previous day were presented. The participants discussed prospects for expanding cooperation in the transportation, investment, and industrial sectors.

A practical outcome of the meeting was the signing of a cooperation agreement between the “Khimgrad” technopolis and the NexTouch group of companies and Nex-T CJSC. The document provides for the implementation of an investment project in the production of interactive equipment, displays, software and hardware, and solutions for people with disabilities within the Sumgait Industrial Park.