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Iran prepares program to develop economic relations with Azerbaijan (Exclusive)

Business Materials 10 July 2021 21:08 (UTC +04:00)
Iran prepares program to develop economic relations with Azerbaijan (Exclusive)

BAKU, Azerbaijan, July 10

By Elnur Baghishov – Trend:

A program has been developed in Iran's East Azerbaijan Province in order to develop Iran's economic relations with Azerbaijan, Deputy Governor of Iran's East Azerbaijan Province on economic issues Ali Jahangiri told Trend.

According to him, the program already has been sent to the relevant Iranian agencies.

The deputy governor noted that after the final approval, the program will become Iran's national program on economic relations with Azerbaijan. The program identifies plans, details and targets for trade between the two countries. Under the program, the needs of the Azerbaijani side are to be more closely acquainted.

"For more than three months, Iran's Ministry of Industry, Mine and Trade has appointed Iran's East Azerbaijan Governor Office to maximize the development of economic relations between Iran and Azerbaijan. This shows that Iran attaches special importance to Azerbaijan. Of course, Iran's East Azerbaijan Province has both a border with Azerbaijan and historical and cultural ties. This responsibility demonstrates the serious will of the Iran," Jahangiri added.

The deputy governor emphasized that about 35-40 percent of Iran's annual exports to Azerbaijan are produced in the East Azerbaijan Province. This is one of the key factors in determining the province for the development of trade with Azerbaijan.

Jahangiri said that following the decision of the Ministry of Industry, Mine and Trade of Iran, a number of steps have been taken. The governor's office received information about the potential of all provinces of Iran.

As reported, according to the Islamic Republic of Iran Customs Administration (IRICA), Iran exported 1.08 million tons of goods worth about $511 million to Azerbaijan, while imported 28,400 tons of goods worth $76.1 million from Azerbaijan over the last Iranian year (from March 20, 2020 through March 20, 2021).

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