Iran, Azerbaijan to cut tariffs between ports

Iran, Azerbaijan to cut tariffs between ports

Baku, Azerbaijan, Sept. 4

Trend:

Iran and Azerbaijan will decrease preferential tariff between the ports of the two countries, under mutual agreement, Mohammad-Ali Hassanzadeh, deputy head of Iran’s Ports and Maritime Organization (PMO) for ports and economic affairs, said.

Hassanzadeh made the remarks during a meeting with Taleh Ziyadov, director General of Baku International Sea Trade Port on Sept. 4 in Amirabad port, northern Mazandaran Province, IRNA news agency reported.

Decrease of the preferential tariff will lead to boosting trade between the ports of the two countries, Hasanzadeh said. ‎

Economic capacity of the two countries for trading is very high and the existing port infrastructures should be used for developing the economic ties, he added.

The official further invited the private sector entrepreneurs of Azerbaijan and Iran to make investment in the ports of the two countries.

Grounds are prepared for joint investment in Iranian northern ports, including Amirabad and the PMO has forecasted incentives for foreign investors, Hassanzadeh noted.

According to the official IRNA news agency, trade turnover between Iran and Azerbaijan hardly reaches $1 billion, of that $400 million falls on tourism sector.

Only 2 percent of trade between the two countries is carried out via ports.

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