Tuesday, July 21, 2009

Azerbaijan and Russia will discuss creation of joint venture fund

At thd session which has taken place on May, 29th in Baku of the Azerbaijan-Russian intergovernmental commission on economic cooperation of the party have discussed unexpected directions for interaction.

As transfers Abc. az referring to the Russian side message, the parties note importance of assistance to development of small and average business. The decision on carrying out in Moscow conferences on this problematics is accepted, - is told in the message.

The parties also have declared attention to cooperation development in innovative sphere. Earlier the rector of Institute of innovations. Farhad Mehtiev. Has declared that in the Azerbaijan-Russian relations there is no algorithm of innovations, and for situation change at level of the Azerbaijan-Russian intergovernmental commission on economic cooperation it is necessary to make the decision on creation of joint venture fund as the Russia the decision on formation of venture fund in volume $600 million It also is accepted has noticed that operating at the Ministry of economic development the Azerbaijan investment company has no venture aspect.

At creation of joint venture fund it is possible to generate preconditions for development of the Azerbaijan-Russian relations on an innovative basis, - Mamedov has told. The ambassador of Russia in Azerbaijan.

Vladimir Dorohin. Has noted problems of transition of the Russian economy to an innovative direction of development. We can consider a question on joint venture fund at session of working group on the scientific and technical policy. At the same time, in Russia today 6 % of gross national product while in the developed countries of the world – 60-70 %, - Dorohin has informed are spent for scientific workings out.

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