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Tehran offers Baku using national currencies in trade

30 January 2015 [13:53] - TODAY.AZ

/By AzerNews//

By Sara Rajabova

Iran offered Azerbaijan using national currencies in the calculations in mutual trade of the two countries.

Ali Tayyebnia, Iranian Minister of Economy and Financial Affairs made the remarks at a press conference on January 29, local media reported.

He noted that currently Iran is already carrying out foreign trade settlements in national currencies with a number of countries and is interested in expanding this tendency with others with which it is cooperating in different fields.

“We have not yet discussed this issue with the Azerbaijani government, but the negotiations in this area should be carried out by the central banks of the two countries,” Tayyebnia said.

He went on to say that the economic opportunities and the potential of the two countries contribute to the further development of ties and increasing their trade significantly.

Tayebnia said the Iranian companies have extensive experience in engineering and technology, noting that they can take part in major projects and construction works implemented in Azerbaijan.

He also stressed that Iran can play a role in supplying Azerbaijani goods via the railways to the Gulf countries, adding that Iran is a proper route for transit of goods from Azerbaijan to the Gulf states.

Speaking about the Azerbaijani investments in Iran, Tayyebnia said in recent years, the Azerbaijani investors in the Islamic country have been investing mainly in the oil and petrochemical branches of industry, in housing construction and production of building materials.

Noting that there are no obstacles in the way of development of relations between Azerbaijan and Iran, he said Azerbaijani investors in Iran can take advantage of the significant potential existing in the industry, mines and other areas.

He said there is no accurate data on the capital of Azerbaijani investors in Iran, however, added that Azerbaijani investors have recently interested in investing in Iran, in particular, in the "Aras" free economic zone, located on the border with Azerbaijan and "Maku" free trade zone.

Iran’s top official has also voiced his country’s readiness to help better fulfillment of development projects in Azerbaijan by sharing Tehran’s significant technical experiences with Baku.

Outlining outcomes of his two-day visit to Azerbaijan Tayyebnia noted that he had fruitful and constructive talks with senior officials of Azerbaijan, IRNA reported.

He said implementation of agreements made during the visit of presidents of Iran and Azerbaijan was one of major goals of his visit to the neighboring country.

Tayyebnia added that promotion of Tehran-Baku relations and cooperation would benefit both capitals as well as all regional states.

Noting that economic ties between Iran and Azerbaijan are not as good as their political relations, he said the volume of bilateral economic exchange stood at $500 million which can be multiplied to suit the political relations of the two neighboring countries.

Tayyebnia went on to say that Tehran and Baku can have useful cooperation in the field of health tourism and banking activities.

Referring to Iran’s successful economic policies, Tayyebnia said Tehran has succeeded to reduce its over 40-percent inflation to lower than 16 percent through proper monetary and financial policies.

He added, after eight seasons of consequent recession, the rate of Iran’s economic growth mounted to four percent in the first half of the current Iranian year (from March 21-Septemeber 22, 2014).

Tayyebnia noted that according to domestic and international forecasts, this growing trend will continue in the future and reach its highest level in the entire Middle East and North African regions.

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

Tehran has in recent years focused seriously on development of ties with neighboring countries, including Azerbaijan which enjoys various commonalties with Iran in religious, historical and cultural fields.

URL: http://www.today.az/news/regions/138528.html

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