BAKU, Azerbaijan, Mar. 8
By Elnur Baghishov – Trend:
Iran's exports to Azerbaijan are not enough level in terms of volume and value, Deputy Governor of East Azerbaijan Province Ali Jahangiri said, Trend reports citing governor office’s website.
According to him, Iran's East Azerbaijan Province has been instructed to develop economic relations with Azerbaijan. In this regard, it is necessary to use the potential of all provinces of Iran, especially West Azerbaijan, Ardabil and Zanjan provinces.
“In addition to supporting Azerbaijan, the goal of the restoring Azerbaijan's territories liberated from Armenian occupation, is to increase exports to this country," he said.
Jahangiri noted that the participation of Iranian companies in the restoration work can create favorable conditions for the development of Iran's economic and trade cooperation with other countries.
A number of issues such as investment opportunities for companies and investors participating in the liberated territories of Azerbaijan were discussed in the meeting with the participation of deputy governors for Economic Affairs of East Azerbaijan, West Azerbaijan, Ardabil, Gilan and Zanjan provinces of Iran. At the same time, increasing of cooperation between railways, highways, chambers of commerce were also discussed in the meeting with the participation of technical, engineering and agricultural companies.
According to the statistics of the Trade Promotion Organization of Iran (TPOI), the trade turnover between Iran and Azerbaijan amounted to 936,000 tons worth $364 million during the 11 months of the current Iranian year (March 20, 2020 through February 18, 2021). The trade turnover decreased by 11 percent compared to the same period last Iranian year.
So, Iran exported 912,000 tons of goods worth $343 million to Azerbaijan and imported 24,000 tons of goods worth $21.4 million from Azerbaijan over the reporting period. The exports decreased by 13 percent, while imports increased by 29 percent.