Iran proposes to establish joint ventures with Azerbaijan

Business Materials 15 March 2019 09:52 (UTC +04:00)

Tehran, Iran, March 15


Iran's Minister of Economic Affairs Farhad Dejpasand said that the volume of trade between Iran and Azerbaijan has grown by 75 percent over the past year (end on March.21, 2019).

Speaking at the Iran-Azerbaijan Trade and Investment Conference, the official said it was necessary to establish joint venture companies to deepen economic relations between the two countries, Trend reports citing Mehr News Agency.

Dejpasand traveled to Azerbaijan for attending the 13th meeting of the Joint Commission on Economic Cooperation of Iran and the Republic of Azerbaijan.

"The best way to deepen economic relations between the two countries is establishing joint ventures in the areas of investment, services, tourism and international trade, based on win-win approach,” said Dejpasand.

The minister went on to say that both countries have the capacity to do so.

“Iran believes that the economic, cultural and social ties between the two countries are expanding further and provide a catalyst for the growth and development of both countries,” he said.

Dejpasand acknowledged the level of political relations between the two countries and referred to the numerous mutual visits of presidents of both countries, as well as high-ranking delegations.

He noted that discussions on "promotion of bilateral relations is not a short-term necessity, but it has to be a strategy.”

He called on the two countries' private sectors to develop economic ties.