Azerbaijani entrepreneurs eye bridging Iran exports with Russia

Business Materials 6 July 2017 17:45

Baku, Azerbaijan, July 6

By Farhad Daneshvar – Trend:

Azerbaijani entrepreneurs’ organization has expressed interest in facilitating exports of Iranian goods and products to Russia and other regional countries.

Fuad Humbetov, an official with the National Confederation of Entrepreneurs (Employers’) Organizations of Azerbaijan Republic, has told Trend that his organization is interested in expansion of cooperation with Iran through producing joint products and exporting those goods to Russia and other former Soviet Union countries.

Speaking on the sidelines of a meeting with Iranian counterparts in Baku on Thursday, Fuad Humbetov added that the two countries are planning to ink several agreements on deepening cooperation in the non-oil sectorç including food and agricultural products.

According to the data available on the website of State Customs Committee of Azerbaijan, trade turnover between Iran and Azerbaijan over the last year surged by 78 percent to post $221.2 million.

In the meantime, Iran-Russia trade turnover saw a huge rise over the past year, hiking by 80 percent to more than $2 billion, with energy, agriculture and defense sales forming the bulk of the transactions.