BAKU, Azerbaijan, Mar. 18
By Elnur Baghishov – Trend:
The value of trade turnover between Azerbaijan and Iran can increase to $3 billion a year, the Deputy Chairman of Iran Chamber of Commerce, Industries, Mines & Agriculture (ICCIMA), Mohammad Reza Karbasi said, Trend reports citing the ICCIMA.
He made the remark in a webinar held with the participation of the heads of the Iranian Confederation of Employers' Associations (ICEA), Azerbaijan Export and Investment Promotion Foundation (AZPROMO), Azerbaijan Entrepreneurs Confederation (AEC), and other officials.
According to Karbasi, despite the high potential for joint cooperation between the two countries, trade opportunities have not been used to the required level.
“At present, many projects are being implemented in Azerbaijan. Iran's private sector can participate in these projects. Especially, with the liberation of Karabakh from the Armenian occupation, conditions have been created for the participation of Iranian engineering companies,” the deputy chairman said.
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 first 11 months of the current Iranian year (March 20, 2020, through February 18, 2021). So, Iran exported 912,000 tons of goods worth $343 million to Azerbaijan and imported 24,000 tons worth $21.4 million from Azerbaijan over the reporting period.