TODAY.AZ / Business

Azerbaijani, Iranian entrepreneurs to meet in Baku

04 July 2017 [13:15] - TODAY.AZ

By Azernews


By Sara Israfilbayova

Azerbaijani and Iranian entrepreneurs will meet in Baku on July 6 to jointly explore business opportunities.

The meeting will be held as part of the visit of the Chamber of Cooperation delegation from Iran’s West Azerbaijan Province to Baku, said the Azerbaijan Export and Investment Promotion Foundation (AZPROMO).

Iran recognized Azerbaijan's independence in 1991 and diplomatic relations between the two countries were established in 1992.

The two countries enjoy developed political, economic, cultural and humanitarian relations and have signed about 50 documents on cooperation.

Iran has invested $2.7 billion in Azerbaijan`s economy as of February 2017. As many as 538 Iranian companies are engaged in various spheres of Azerbaijan`s economy. Azerbaijani companies operate in Iran as well.

Iran is an important trade partner of Azerbaijan and the bilateral trade increased 70 per cent in 2016.

Azerbaijan’s trade turnover with Iran amounted to $96.83 million in January-May 2017, which is 31.3 percent more than in the same period of 2016, according to the State Customs Committee of Azerbaijan.

AZPROMO was established by the Ministry of Economy of Azerbaijan in 2003 with the aim to contribute to the economic development through attracting foreign investments in the non-oil sectors of economy and stimulating expansion of country's exports of non-oil goods to the overseas markets.

URL: http://www.today.az/news/business/162832.html

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