Mahmud-Ali Kalimatov, the leader of  Ingushetia, said that the Ingush administration plans to create collaboration on joint projects with Azerbaijan, Uzbekistan, and Belarus in several fields.

"We will collaborate with Azerbaijan, Uzbekistan, and Belarus on 40 projects that are part of our investment portfolio. There has recently been a delegation there. We are examining the possibilities, there are already specific suggestions, and we will already put the initial plans into action in the fall. We intend to carry out cooperative projects," he added.

The regions of Azerbaijan and Russia cooperate in a variety of areas, including high technology, communications, agriculture, customs, and economy. Six "road maps" are now being executed, and more than 230 intergovernmental and corporate papers have been signed between the two nations.

Over $1.2 billion has been invested by Azerbaijan in the Russian economy, with the bulk going into non-oil areas. Furthermore, Russian investments in the economy of Azerbaijan reached $6.3 billion, of which $5 billion went into the oil industry and $1.3 billion into non-oil sectors.