Iran's Finance and Economic Affairs Minister Seyyed Shamseddin Hosseini held economic talks with Azeri Economic Development Minister Shahin Mustafaov on Friday, calling for enhanced ties in banking and insurance sectors.
The two ministers met on the sidelines of the General Assembly meeting of the Islamic Development Bank in Azerbaijan's capital city of Baku, IRNA news agency reported.
Praising the Azeri government for hosting the meeting, Hosseini called for boosting bilateral ties and expressed hope that the two countries' annual trade value will reach $10 billion in five years from the current 500 million dollars.
Meanwhile, Hosseini and his Azeri counterpart Samir Sharifov on Wednesday conferred on issues of mutual interest.
The two ministers reviewed ways of fostering the two-way banking and insurance cooperation.