TODAY.AZ / Business

Iran, Azerbaijan keen on enhancing trade relations

03 September 2015 [11:55] - TODAY.AZ

/By AzerNews/

By Aynur Karimova

Tehran and Baku are keen on enhancing trade relations following Iran's nuke deal with the six world powers, Iranian Ambassador to Azerbaijan Mohsen Pak Ayeen said on September 2.

"Following the nuclear agreement, favorable conditions were created for the two countries to expand ties and increase the volume of bilateral trade," the diplomat noted.

He said that Iranian and Azerbaijani businessmen, in a joint meeting in Baku, discussed removal of existing impediments to further expand trade ties.

The envoy called on Iranian traders to create a think-tank and plan a road map for the development of trade relations with Azerbaijan.

He added that while expanding banking relations with Baku is among Tehran's priorities, joint ventures could be made in both countries in various fields, including energy, transportation, and tourism.

Azerbaijan and Iran have had diplomatic relations since 1918. Iran recognized Azerbaijan's independence in 1991 and diplomatic relations between the two countries were reestablished in 1992.

The two countries, which enjoy various religious, historical, and cultural commonalties, are focused on expanding tourism, education, and other ties.

Currently, the trade turnover between the two countries is about $500 million. Iran and Azerbaijan have set a goal to increase this figure by four times, up to $2 billion.

Iran's export to Azerbaijan during the first half of 2015 decreased 55.36 percent to $42.52 million year-on-year. Azerbaijan's export to Iran also decreased 67.11 percent to $11.16 million during that period.

URL: http://www.today.az/news/business/143389.html

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