According to reports the Azerbaijani government has agreed to help the Russian republic in the implementation of its economic potential. Karachai-Cherkessia has available hydro power potential and Azerbaijan has agreed to invest and supply equipment for the construction of hydroelectric power plants, oriented to power exports to neighbouring regions of the Russian Federation.
Joint ventures for Azerbaijan and Karachay-Cherkess Republic
Azerbaijan and the Karachay-Cherkess Republic of Russia have expressed an interest in the establishment of joint ventures. Rashid Temrezov, the head of Karachay-Cherkessia, said: ‘The Azerbaijani side has proposed to establish joint ventures in the field of hydropower, agriculture and others.’