Iran, Azerbaijan to tap more economic potentials

TEHRAN, Oct. 26 (MNA) – An Iranian official says the economic ties between Iran and the Republic of Azerbaijan have reached a good level, noting that efforts are underway to utilize more untapped potentials between the two neighbors.

“Tehran-Baku economic relations have experienced a tangible growth in the past years, as the volume of trades between the two sides has exceeded $1 billion in the past couple of years,” Javad Mohajeri, the economic attaché of the Iranian Embassy in Azerbaijan told Mehr.

Noting that the increase can be seen in different strategic fields of energy, banking and transportation, he noted that efforts are made for further expansion of such ties since not only will these relations benefit the two nations, but they also will have a great contribution to the regional economy.

“The economic cooperation with Azerbaijan is also a great opportunity for Iran to gain access to the international markets of the CIS countries,” he said, adding that “Plans are put high on the agenda to stronghold our footprints in those markets, too.”

Mohajeri noted that besides the flourishing ties in the fields of energy, medicine, science and culture, the two neighbors have been trying to increase their technological cooperation.

“Over 50 knowledge-based Iranian firms participated in Baku’s exhibition last week,” he said.

Referring to Iranian President Hassan Rouhani’s visit to Baku, he said the deals for selling the products of six Iranian firms worth $4.5 million was signed during the president’s trip.

Besides, some 18 Iranian firms have also been registered at Azerbaijan’s Innovation Agency to continue their business in the country’s booming market.

Regarding other sectors, Mohajeri said Iranian experts are set to build power plants in the Republic of Azerbaijan, in line with the efforts to boost the energy cooperation between the two sides.

Elsewhere, he referred to the Astara-Astara railway connection between the two neighbors as an achievement, not only for Iran and Azerbaijan, but also for the whole region.

He stressed that this transit route is very important for Iran’s relations with Azerbaijan, Russia, Europe and Caucasus as well as for other countries that are active in this field.

MNA/4754989

News Code 151598

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