Russia and Azerbaijan can find solutions to problems connected with decrease in volume of trade which was hit by global crisis and the fall in oil prices, the Russian President Vladimir Putin stated at a meeting with his Azerbaijani counterpart Ilham Aliyev in Baku.

According to him, owing to various reasons (global economic crisis, the fall in prices for traditional export commodities, problems with exchange rate fluctuations) the trade turnover decreased. He noted that the good background was created to solve the matters, TASS reported. He also said that have perspective projects not only in the energy sector but also in other industries.

Putin noted that nearly 600 Russian companies are operating in Azerbaijan and the direct investments make over $1.5 billion. Putin said that they continue cooperation in the Caspian Sea region, including military cooperation. He explained that bilateral cooperation turned into strategic partnership, which is very important for the diversification of relations.