Iran envoy: Caspian Sea oil fields important area for joint investment (exclusive)
Baku, Azerbaijan, Jan. 19
By Farhad Daneshvar - Trend
The most important area for joint investment between Iran and Azerbaijan is the oil fields of the Caspian Sea as international sanctions against Tehran have been lifted, Iran's Ambassador to Baku said.
"Even during the sanctions-era, some neighbors of Iran such as Azerbaijan were after opening a new chapter in economic ties with the Islamic Republic which will contribute to strengthening economic ties between the two neighboring states," Mohsen Pak-Ayeen told Trend on Jan. 19.
While Iran holds 10 percent share in the Azerbaijan's offshore gas field of Shah Deniz, Tehran and Baku swap about 1 million cubic meter of gas per day and exchange power, as well.
During an exclusive interview with Trend.In November 2014, Iranian Oil Minister Bijan Namdar Zanganeh elaborated on cooperation between Tehran and Baku.
The capacities of Azerbaijan in the terms of access to roads, railway, airlines and shipping lines as well as agricultural and industrial sectors have created proper chances for joint investment, he added.
The ambassador further added that Turkey and Russia also can help Iranian traders to access the Europe.
In a joint statement on Jan. 16, the EU's High Representative Federica Mogherini and Iran's Foreign Minister Mohammad Javad Zarif announced the implementation of the JCPOA and the removal of economic sanctions on Iran.
According to the statement, EU has confirmed that legal framework, providing for lifting of its nuclear-related economic and financial sanctions, is effective.