Iran’s private sectors to invest in Azerbaijan

Photo: Iran’s private sectors to invest in Azerbaijan / Business News

Baku, Azerbaijan, June 20

By Ilkin Izzet - Trend:

The next meeting of Azerbaijani-Iranian intergovernmental commission on trade and economic cooperation will be held from August 4 to August 5 in Baku, Iran's Deputy Minister of Industry, Mine and Trade Mojtaba Khosrow-Taj said.

He made the remarks at a press conference in the Iranian embassy in Azerbaijan on June 20.

"The private sectors of the two countries are interested in the development of cooperation," the deputy minister said and expressed gratitude to the business people participating in the expansion of the relations despite Iran's blockade.

Khosrow-Taj stressed that the economic potential of the two countries is much higher than the current level of cooperation, adding that during the visit there will be announced spheres where Iran's private sector can invest in Azerbaijan.

He underscored that Iran and Azerbaijan have good opportunities to expand the cooperation in such spheres as the production of construction materials, as well as transportation.

The two sides attach great importance to the construction of Tehran-Rasht-Astara railway in the development of relations in the transport sphere. Once connected to Azerbaijan's railway network, it will be able to transport cargo from the north to the Persian Gulf countries and Asia and back.

Khosrow-Taj went on to add that around one million people travel from Azerbaijan to Iran per year, stressing that the majority of them come for treatment.

"It is necessary to remove all obstacles to their cross border movement and to simplify the legal system," Iran's deputy minister said. "The negotiations in Baku were mainly focused on the simplification of customs procedures".

Additionally, it is possible to simplify their travel by air transport by increasing the number of flights and opening new ones to such cities as Mashhad. It is also proposed to open a sea voyage from Anzali to Baku.

Khosrow-Taj said that Iranian officials and businessmen are expected to visit Azerbaijan for presenting the investment opportunities. The head of Khorasan province will visit Baku to present the investment opportunities of this region.

Edited by CN

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