Minister of Economy and Industry, Shahin Mustafayev, met Iran`s Minister of Economic Affairs and Finance, Ali Tayebnia, who was on a visit in Azerbaijan.
During the meeting, Minister Shahin Mustafayev stressed the importance of developed cooperation on political, economic, and humanitarian relations with Iran ,and visits by heads of state. Last year, the official visits of the Presidents of Azerbaijan and Iran, contributed to the development of relations between the two countries by signed contracts between these countries. The high level of political relations between Azerbaijan and Iran creates great opportunities for the development of economic relations between them. So far, 108 documents were signed between these countries, which include more than 30 documents in the economic sphere.
The state commissions of economic, trade, and humanitarian spheres contributed a lot to the relations of Azerbaijan and Iran Islamic Republic.
447 companies operate in different sectors of the economy with the Iranian investment capital in Azerbaijan. The Minister, Shahin Mustafayev, stressed importance of meetings and exhibitions for developing relations and collaborations of Azerbaijan and Iran Islamic Republic. Minister of Economic Affairs and Finance of Islamic Republic of Iran-Ali Tayebnia attaches great importance to cooperation between the two countries, and the Iranian delegation was received by the President of the Republic of Azerbaijan, and this created positive impressions on them.
Minister Ali Tayebnia based on mutual friendship and trust, shared his views on the directions of the development of economic relations between Azerbaijan and Iran, which has great potential for further expansion of cooperation.
The discussion on expansion of economic ties between Azerbaijan and Iran focused on the development on agriculture, energy, alternative energy, transportation, and other industries.
During the meeting, "Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and Iran Investment Economic and Technical Assistance Organization (OIETAI) agreed on the establishment of a working group on cooperation in the field of investment, and Memorandum of Understanding was signed between them. The Working Group will contribute to the investment relations between the business circles of Azerbaijan and Iran Islamic Republic.