Iran-Azerbaijan 6-month trade more than doubled

August 3, 2019 - 19:44

TEHRAN – The trade turnover between Iran and Azerbaijan has grown 2.2 times in the past six months compared to the same timespan last year, IRIB reported, quoting Iranian Minister of Finance and Economic Affairs Farhad Dejpasand as saying.

Dejpasand made the remarks after a meeting with Azerbaijan`s Minister of Economy Shahin Mustafayev in Tehran on Saturday.

He mentioned the positive cultural, political and economic relations between the two nations, saying that the two sides have joint investment projects underway in various fields such as rail industry and the two countries’ trade will increase even more in near future.

"The number of Iranian companies active in Azerbaijan has also grown by more than 34 percent in the past six months,” Dejpasand said.

Elsewhere in his remarks, the official noted that the two countries share common interests in a variety of areas including energy, banking and customs, and this will be covered in a memorandum of understanding which will be discussed in the upcoming Iran-Russia-Azerbaijan joint trilateral summit in Sochi.

Dejpasand also stated that another meeting with the Azerbaijani minister has been scheduled for fall during which the two sides will discuss expansion of cooperation in more areas like automotive, pharmaceuticals, agriculture and even education.