/By Azernews/

By Amina Nazarli

Azerbaijan and Iran considered their economic ties, as the joint business forum of the two countries was held in Baku on July 13.

Co-organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and Azerbaijan National Confederation of Organizations for Entrepreneurs, the event discussed business development and talked about improvement of economic relations between entrepreneurs of these two countries. 

The Iranian guests were informed about the reforms aiming at development of non-oil sector, business and investment climate of Azerbaijan and activities of AZPROMO in promotion of non-oil sector.

Yusif Abdullayev, Vice-President of AZPROMO noted that the relations between the two states are developing both in political, economic and other formats.

“Trade between Azerbaijan and Iran was $125 million last year,” Abdullayev reminded.

Mahmoudreza Sharifi, Chairman of the Chamber of Cooperation in Western Azerbaijan region of the Islamic Republic, in turn, emphasized that the two sides have excellent economic relations, stressing that both countries share common language, history and religion.

Azerbaijan and Iran, the two strategic partners and two neighboring countries with historically close links, enjoy cooperation in various fields. Currently, Iran and Azerbaijan are focused on expanding economic ties in industry, agriculture, energy, alternative energy, and transportation.

Deputy Iranian Oil Minister in Engineering Affairs Ali Reza Asl-Arabi recently said that Iran and Azerbaijan have great opportunities for cooperation in the oil industry, in particular in the field of maintenance, which can bring mutual benefits to both sides.

“Azerbaijan can get a lot of benefits if it will obtain Iranian experience for the maintenance of oil facilities,” the deputy minister told Trend.

He said that both in the daily small maintenance tasks and periodic maintenance and technical procedures, Azerbaijan mainly uses the services of European and American companies, which entails high costs due to the geographical distance, the use of foreign currency and other factors.

“At the same time Iran has 30-35 large companies providing maintenance services. The Iranian oil industry has a 110-year history. There are a lot of experienced professionals who can serve as easily accessible leaders, and young cheap labor force that can be mobilized at short term,” he explained.

Such cooperation, according to Asl-Arabi will also be beneficial for Iranian companies.

“This collaboration can serve as a starting point for release of Iranian companies to international markets, and given the fact that Azerbaijani companies mainly use western consultants, Iranian companies would be able to increase their experience and prestige,” he ended.

Today, both countries enjoy good conditions for improving economic and trade relations between Iran and Azerbaijan.

The present Iranian administration’s policy of improving international relations, Tehran’s pursuit of win-win situations, and a political will shared by Iran and Azerbaijan have improved the chances of growing economic ties between the two neighboring countries