Tehran-Baku relations up and about

News ID: 2807811 -
TEHRAN, June 5 (MNA) -– Tehran and Baku are going to give a new impetus to their existing economic ties by bolstering cooperation both in industrial and investment sectors. The news came during a three-day official visit to Azerbaijan Republic by Islamic Republic of Iran Mines and Industries Minister Alireza Tahmasbi.

On June 3, the minister was received by President Ilham Aliyev and both sides discussed speedy implementation of joint industrial projects in the Azeri state which was conferred with President Ahmadinejad in Aliyev’s recent trip to Tehran, the Persian service of IRNA reported.


Moreover, Aliyev considered the establishment of a joint investment institute with initial capital of $100m by the two governments, inked in Tehran, as a cornerstone for further realization of economic plans in Azerbaijan by the assistance of Iran.


In another development on June 3, Tahmasbi and Azeri economic minister participated in the commissioning ceremony of Samand’s assembly line in the city of Shamakhi, 70 miles west of Baku, which is to be fully operational in the near future. The popular sedan by Iran Khodro Company (IKCO) will be introduced to the neighboring country’s market as ‘AzSamand’.


Finally, on June 5, the export agreement on selling 500 city buses at $22.5m and 30 double-deck intercity versions at $3m was signed between Iran Khodro Diesel and Azerbaijan’s transportation officials in the city of Baku, the Persian service of ISNA reported.


According to the analysts, the current state of affairs between the two nations is part of Ahmadinejad Administration’s foreign policy to bolster all-encompassing ties with other Commonwealth Independent States (CIS) through offering Iran’s ever-growing industrial capabilities to create sustainable and at the same time independent regional development free from advanced countries’ technological hegemony. 







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