Wednesday, 08 December 2021 12:00 GMT

Trade turnover between Azerbaijan and Iran increased - Deputy PM


(MENAFN- Trend News Agency) BAKU, Azerbaijan, Nov. 21

By Elnur Baghishov – Trend:

The trade turnover between Azerbaijan and Iran for 9 months of this year increased by 22 percent compared to the same period last year, Deputy Prime Minister of Azerbaijan Shahin Mustafayev said today at a meeting with the Minister of Roads and Urban Development of Iran in Tehran, Trend reports.

According to him, trade has increased despite the fact that over the past two years, the coronavirus pandemic has had a negative impact on the global economy.

"Transportation between Iran and Azerbaijan did not stop. We need to build new transport infrastructure, including bridges, to further develop economic relations between the two countries," he said.

He noted that currently the working groups of Azerbaijan and Iran are working on a document on preferential trade between the two countries.

"The issues of development of trade relations between Azerbaijan and Iran are being discussed. There are joint projects in the field of energy, electricity, which are already being completed. Possible cooperation with Iran in the production of auto parts. We can also cooperate with Iran in the field of agricultural machinery. Two thousand Iranian companies are registered in Azerbaijan and have implemented successful projects," he said.

According to him the North-South corridor from Iran to Azerbaijan and Russia is one of the projects that both countries are working on.

"The oil and gas sector was also discussed. The joint working group continues discussions. Azerbaijan and Iran cooperate in the field of electricity. We are working on the synchronization of the power grids of Iran and Russia," he said.

Mustafayev added that the next meeting of the joint commission of the two countries will be held in Baku.

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