Iran and Republic of Azerbaijan have already concluded 60 economic cooperation agreements and over 200 Iranian companies or firms invested by them are currently operating in Azerbaijan, he announced.

Investments made by Iranian sides in Azerbaijan during the first eight months of the current year hit $229 million he pointed out adding that the figure is indicative of 3.33 percent growth in investment compared to the same period last year.

He also referred to the Iranian trade and economic delegation's current visit of Azerbaijan and maintained that the trip would lead to further development of economic and trade cooperation between the two countries. The meeting attended by an Iranian economic and industrial delegation is aimed at exploring ways of expanding mutual trade and economic cooperation between the two neighboring countries, he stated.

The delegation is comprised of representatives from 20 Iranian firms and has earlier traveled to Georgia to conclude a number of trade and economic agreements with their Georgian counterparts as well. It includes representatives of companies producing foodstuff, clothing materials, medical equipments, and also suppliers of automotives, road building and construction sector and electronic equipments.

The policies currently adopted by Azeri officials have paved the way for economic pluralism in the nation, which would lead to the significant growth in its macro economy and its gross domestic product (GDP) as well, the Persian service of ISNA quoted Hussein Pashayev as saying. The official made the remarks during the seminar held in capital of Azerbaijan, Baku. The Trade Promotion Organization of Iran (TPOI) sponsors the meeting. It is being held from Nov. 23-25, 2006. Mehr News Agency