Iran-Azerbaijan trade halved in a decade

Business Materials 10 June 2015 15:57 (UTC +04:00)

Baku, Azerbaijan, June 10

By Fatih Karimov - Trend: Trade between Iran and Azerbaijan has decreased by half over the past ten years, said Abbas Khaleqi-Tabar, an official with Iran's Industry, Mining, and Trade Ministry.

Economic ties over the past decade have reduced sharply due to some political, cultural, and religious tensions between the two nations, Iran's Fars news agency quoted Khaleqi-Tabar as saying June 10.

Iran has the capacity to export medicine, such as drugs for special diseases, herbal medicine, antibiotics, medical equipment, chicken, fish, eggs, flour, and copper products, he said.

Azerbaijan imports machinery and equipment, oil products, food products, metals and chemicals, while exports mainly natural gas and crude oil, he noted.

Azerbaijan was the 12th leading importer of Iranian non-oil goods in the previous Iranian calendar year, which ended on March 20, 2015, according to the Iran Customs Administration.

Iran exported $435.3 million of non-oil goods to Azerbaijan, while imported $22.2 million of non-oil goods from the country.

However, according to the Azerbaijan Custom's report, some $66.8 million goods was imported from Iran and $25.8 million Azerbaijani goods were exported to this country in first four months of 2015.

Edited by CN