BAKU, Azerbaijan, June 4. We have always had and continue to have very good and cordial relations with Azerbaijan – both in the economic and political spheres, Russian President Vladimir Putin said in response to a question from AZERTAC Chairman of the Board Vugar Aliyev at a meeting with representatives of international news agencies as part of the 29th St. Petersburg International Economic Forum, Trend reports.

Recalling that the Declaration on Allied Cooperation was signed between the two countries several years ago, the Russian head of state noted: "President Aliyev is investing considerable effort into filling this agreement with concrete content. This is reflected in specific areas of our cooperation."

Emphasizing that Russian investment in Azerbaijan's economy exceeds ten billion dollars, Vladimir Putin said, "A large number of enterprises operate with Russian capital. We have close cooperation on humanitarian issues."

He also emphasized that the two countries have many issues of mutual interest in logistics. The Russian President cited the North-South Transport Corridor as an example.