Within the framework of the visit of the Iranian delegation, the Azerbaijan-Iran business forum organized by the Azerbaijani Export and Investment Promotion Foundation (AZPROMO) and supported by the Ministry of Economy and Industry was held on August 7  in Baku. Along with officials from the both sides, more than 150 entrepreneurs working in the spheres of industry, agriculture, logistics, production of construction materials, education  etc. have participated in the forum.
Addressing the forum, Azerbaijani Minister of Economy and Industry Shahin Mustafayev said that political relations between Azerbaijan and Iran are on a high level and after the meeting between the President of the Republic of Azerbaijan Mr. Ilham Aliyev and President of the Islamic Republic of Iran  Hassan Rouhani in Davos in the beginning of 2014, as well as an official visit of President Ilham Aliyev to Iran in April this year, our bilateral relations have entered a new stage of development.
Currently, relations between Iran and Azerbaijan in various spheres of economy are well under way and it is important for expanding cooperation in business relations development. Minister Shahin Mustafayev noted that, during the visit of the Iranian delegation to Azerbaijan the 9th meeting of the State Commission on economic, trade and humanitarian cooperation  between the Republic of Azerbaijan and the Islamic Republic of Iran was held and agreed on all the issues discussed during the meeting.
At the State Commission meeting held  yesterday was reached an agreement  for constant exchange of information about increasing the trade turnover between Azerbaijan and Iran, and  determining demand for the goodswith export potensial and expansion of investment activities.
It was noted that on the issue a working group will be established by the National Confederation of Entrepreneurs (Employers') Organizations of Azerbaijan and  Iranian Chamber of Commerce. During the meeting of the Commission between  the Government of the Republic of Azerbaijan  and the Government of the Islamic Republic of Iran it was agreed to speed up works on continuation of the construction and  maintenance of "Khudaferin" and "Maiden Tower" hydroelectric power stations, and cooperation in the sectors of energy and water resources. In addition, during the official visit of the President of the Republic of Azerbaijan  to Iran two countries agreed  to launch the document   "Agreement  between the Government of Azerbaijan and the Government of the Islamic Republic of Iran about construction and operation of Ordubad and Marazad hydropower stations" and  accelerating the implementation approval by the relevant authorities in Iran. During the meeting of the State Commission, there has also been achieved an agreement on speeding up the implementation works within the framework of the "Rasht-Astara (Iran) - Astara (Azerbaijan) railway" project which is part of the North-South transport corridor. Considering the growing economic relations between Azerbaijan and Iran, it was decided to change the working time of a state border checkpoint in Bilasuvar-Julfa (Iran) to a 24-hour regime, and maintain construction of railway and roads, as well as pedestrian bridges at the Astara (Iran) - Astara (Azerbaijan) border crossing point and considered reducing tariffs on joint border crossing points. At the State Commission meeting, there have been discussed the issues of enhancing cooperation in such fields as investment, energy, banking, ICT, agriculture and so on, and an appropriate agreement was reached.
Minister Shahin Mustafayev stressed the importance of business forums, meetings and exhibitions in expansion of economic relations and new partnership between Azerbaijan and Iran and said that  people in today's business forum will  contribute to the development of bilateral trade relations. Minister of Economy and Industry provided information on the Azerbaijani economy.
Mr. Vaezi mentioned the great potential for further expansion of economic relations between two countries, and shared his views about expansion of cooperation between Iran and Azerbaijan in various spheres of the economy and development of relations between bussinesmen.
The Iranian minister offered to establish a joint chamber of trade and cooperation between Azerbaijan and Iran  and claimed that it would develope positive dynamics of economic relations between the two countries. Minister of Communications and Information Technologies of the Islamic Republic of Iran, Mahmoud Vaezi stressed in his speech the importance of the Azerbaijani President’s latest official visit to Iran, not only for the two countries but also for the international community and noted that after this visit, President of Iran Hassan Rohani, considering relations with Azerbaijan a priority,  instructed relevant authorities to enhance cooperation between the countries.
During the event, the President of AZPROMO Rufat Mammadov made a presentation on business climate and investment opportunities in Azerbaijan and the vice-president of Iran Chamber of Commerce, Industry, Mines and Agriculture, Ali Akbar Fərazi made ​​a presentation on the Iranian  economy.
Within the framework of the forum, AZPROMO and Organization for Investment, Economic and Technical Assistance of Iran (OİETAİ)  signed a Memorandum of Understanding.
The business forum continued with bilateral meetings in which cooperation opportunities between entrepreneurs were discussed.