Azerbaijan-Iran trade in first 5 months of 2019 grows 2.3 times

Fri 05 Jul 2019 20:04 GMT | 00:04 Local Time

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The Iranian delegation consisting of members of the Iranian Parliament's Commission on Plan, Budget and Calculations, representatives of the Iranian Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA), which is on a visit to Baku, has met with Azerbaijani Minister of Economy Shahin Mustafayev, Trend reports.

The minister noted that the political will and friendly relations between the presidents of Azerbaijan and Iran are the main driving force in the development of bilateral cooperation. Thus, over the past six years, the leaders of the two neighboring countries held 12 summit meetings and made important decisions, he said.

Trade and economic relations are developing between the two countries, mutual investment cooperation and joint projects are being carried out, he added.

“The value of Iranian investments in the Azerbaijani economy is $3.4 billion,” he said. “In turn, Azerbaijani businessmen are also investing in the Iranian economy. Significant progress has been achieved in the area of ​​joint trade: for example, trade turnover increased by 74 percent in 2018, and grew 2.3 times in the first five months of this year.”

The Azerbaijani minister of economy informed about the prosperous business and investment environment of Azerbaijan, inviting Iranian businessmen to use the business conditions created in the country. Mustafayev said that there are great opportunities for expanding cooperation in the fields of energy, industry, agriculture, trade, small and medium business, finance and others.

In turn, the head of Iranian Parliament's Commission on Plan, Budget, and Calculations Gholamreza Tajgardoon said that his country attaches great importance to expanding ties with Azerbaijan. He noted the development of trade and economic cooperation, expansion of mutual trade, and also stressed the potential for the development of relations in various sectors of the economy.

Alireza Ashraf, secretary general of Iran Chamber of Commerce, Industries, Mines and Agriculture (ICCIMA) briefed the meeting participants on the activities of the chamber, noted the importance of expanding ties between the two countries’ entrepreneurs and their participation in joint projects.

Iranian guests got acquainted with the activities of enterprises in the Sumgait Chemical Industrial Park.




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