Baku is negotiating with Moscow on the supply of new weapons, including latest defence systems, President of Azerbaijan Ilham Aliyev was cited as saying on the sidelines of the World Economic Forum in Davos.

"We are negotiating new deals. The Russian military industry is well-developed, it's common knowledge. We are first and foremost interested in the most modern defensive weapons, new designs. This refers to both helicopters and defence systems. It is an ongoing process," he said, according to RIA Novosti.

According to him, the prospects of new contracts between Azerbaijan and Russia in the area of armaments "are good."

"Contracts worth about $5 billion have been signed so far, and most of them have already been implemented," Aliyev said.