X5 Retail Group, Russia’s second largest food retailer, will receive produce directly from member companies of the Azerbaijan Fruit and Vegetables Producers and Exporters Association (AMTIIA ), the Azerbaijan Export and Investment Promotion Foundation (AZPROMO) reported.
The decision was taken within the framework of AMTIIA’s meeting with representatives of X5 Retail Group. The sides discussed the direction of mutually beneficial cooperation and took a decision on the direct export of fruit and vegetables to the Russian market.
Headquartered in Moscow, X5 Retail Group operates such trade networks as Pyaterochka, Perekrestok, and Karusel.
The newly-established AMTIIA is responsible for boosting Azerbaijan’s export potential in the fruit and vegetable sector as well as increasing overall production levels.
Currently, some 14 Azerbaijani companies are allowed to export their agro-production to the Russian market.
The northern neighbor is still one of the main trade partners of Azerbaijan, which has long had a well-established place on the Russian market. The country currently ranks fifth in Russia’s foreign trade with the CIS countries (following Belarus, Kazakhstan, Ukraine and Uzbekistan).
The trade turnover between Azerbaijan and Russia amounted to $1.06 billion in January to July 2016, while some $212.9 million of the figure accounted for the export to this country.