ECO membership paves ground for co-op between Tehran, Baku
Tehran, Iran, March 27
By Kamyar Eghbalnejad – Trend:
Nowadays, Iran and the Republic of Azerbaijan enjoy ample opportunities for widening economic relations, an Iranian expert told Trend.
Economics Professor at Esfahan University, Komeil Tayebi, believes that high level of diplomatic ties between the two neighboring countries offers a promising prospect for expansion of economic ties.
“The important point is that Azerbaijan is a member of the ECO, and this membership makes the expansion of ties much easier as there is a general agreement between the parties to the international organization,” he said.
“Nowadays, in the international economy, regional partners appear as a necessary and useful factor. A regional market is a requirement for any economy to expand through increasing the volume of demand and supply. Iran and Azerbaijan, nowadays, are capable of doing this together.”
“Another important issue between the two countries is the issue of comparative advantage that today is between the two sides. The two countries today have some advantages and disadvantages in some services and goods, and this has enabled them to benefit from the goods and services that each party has in this ability, and this is the comparative advantage of the two economies.”
Iranian President Hassan Rouhani is expected to arrive in Baku on Wednesday, where the sides would finalize several documents on cooperation.