Iran intends to expand trade ties with Azerbaijan - Iran deputy FM (Exclusive)

Business Materials 26 May 2022 15:06 (UTC +04:00)
Iran intends to expand trade ties with Azerbaijan - Iran deputy FM (Exclusive)
Elnur Baghishov
Elnur Baghishov
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BAKU, Azerbaijan, May 26. Iran intends to increase trade turnover with Azerbaijan, as well as transit of goods through this country, Iranian Deputy Foreign Minister for Economic Affairs Mehdi Safari told Trend.

Safari said that the value of Iran's trade turnover with Azerbaijan and transit of goods through this country amounted to about $1.4 billion for the last Iranian year (March 21, 2021 through March 20, 2022).

The deputy minister emphasized that the figure is expected to reach $2 billion this year (March 21, 2022 through March 20, 2023).

The official also pointed out that Iran is developing relations with Azerbaijan in many areas.

According to him, Iran has recently submitted to Azerbaijan a list of companies that can participate in the reconstruction of Azerbaijani territories liberated from Armenian occupation.

Also, it was noted that a number of projects in the liberated territories of Azerbaijan could be implemented by Iranian companies, and the Islamic Republic is also able to provide construction materials, Safari said.

Over the next 20 days, the foundations of bridges that will be built to establish communication links connecting East Zangazur economic region to Nakhchivan via Iran, he said.

On March 11, 2022, the 15th meeting of the State Commission on Cooperation in Economic, Trade and Humanitarian Spheres between Azerbaijan and Iran was held in Baku.

After the meeting, a Memorandum of Understanding on establishing new communication links between the East Zangazur economic region and the Nakhchivan Autonomous Republic through the territory of Iran, as well as, a number of documents have been signed between the Government of the Republic of Azerbaijan and the Government of the Islamic Republic of Iran.


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