Boost in economic coop. with Republic of Azerbaijan requires double efforts

TEHRAN, Mar. 14 (MNA) – Minister of Industry, Mine and Trade Mohammad Shariatmadari in his meeting with Azerbaijan's Minister of Economy Shahin Mustafayev said on Tuesday that cultural commonalities between Iran and Republic of Azerbaijan facilitate simple trade exchanges.

Iran’s industry minister hoped that setting up of a joint working group within Iran-Azerbaijan Joint Commission will help develop a precise understanding about the two countries’ economic projects.“We are ready to discuss areas of mutual concern during President Hassan Rouhani’s upcoming visit to Azerbaijan,” he said, proposing that a joint delegation discuss industrial and trade capacities of the both sides in a bid to reach an industrial cooperation agreement between the two countries.

It is hoped that the document will serve as a roadmap for boosting cooperation between private sectors, Shariatmadari stated, adding, “the two countries’ chambers of commerce can help bring private sectors of both countries closer to each other.”

Total economic commercial exchanges of Iran and Azerbaijan with the outside world surpassed $150 billion in recent years, while the two countries’ exchanges stand less than $500 million.

Mustafayev, for his part, said that a Memorandum of Understanding (MoU) has been prepared between the two countries, adding, “we hope that the agreement will be inked during President Rouhani’s trip to Azerbaijan.”

"We underline raising the volume of trade between the two countries and are ready to host expert delegation from the Industrial Development & Renovation Organization of Iran (IDRO),” he said.

In conclusion, Azerbaijan's Minister of Economy Shahin Mustafayev invited Iran’s Minister of Industry Shariatmadari to visit Azerbaijan for accelerating mutual cooperation in various trade and business fields.


News Code 132814


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