Iran-Azerbaijan trade volume more than double in the first six months of the year

At the meeting between the Minister of Economic Affairs and Finance of Iran and the Minister of Economic Development of the Republic of Azerbaijan, the two sides stressed their determination to develop further cooperation by announcing a 2.2-fold increase in the volume of trade in the first six months of 2019 compared to the same period last year.

(SHADA: TEHRAN) -- Speaking to reporters at the end of the meeting, the Minister of Economic Affairs and Finance of Iran stated that one of the goals of the meeting was to pursue the Memorandums of Understanding reached in the bilateral economic commission in Baku, and added: In the joint economic commission, the two countries reached a number of agreements, many of which have been well-executed and are being pursued, and some require some understanding as well as further management practices agreed upon in today's meeting.

The next goal of the meeting was to make the arrangements and to cooperate on the issues which will be discussed at the trilateral summit of Iran, Azerbaijan and Russia in Sochi, Farhad Dejpasand said, adding: Fortunately, we had very close relations with Azerbaijan on these issues as well.

Dejpasand expressed the Iranian President's view on developing relations with the Republic of Azerbaijan and stated that Dr. Rouhani has even delegated full powers to the Ministers to develop cooperation and strengthen ties between the two countries.

Noting that good and infrastructure investment projects are being implemented by the two countries, he pointed to the implementation of Azerbaijan's rail project in Iran as one of the successful projects, which has had considerable progress.

He stated that despite all the limitations, the economic activity trend of the two countries is well under development, some of which include the construction of joint automobile and pharmaceutical factories, cooperation in agricultural industries, exchange of technical knowledge, energy, transmission of electricity, and transit of goods.

The Minister of Economic Development of the Republic of Azerbaijan, Shahin Mustafayev, for his part, stated that the relations between the two countries have developed significantly in recent years based on the mutual respect and national interest of the two countries, and called Iran one of the important countries of the region and said: Development and strengthening of relations between Tehran and Baku will help regional stability.

Referring to the special emphasis of the Azerbaijani President on development of cooperation with the Islamic Republic of Iran, he said: I have the special authority on behalf of the President of my country to make the necessary understandings and resolve potential problems in order to develop relations between the two countries.

Mustafayev further stated that one of the areas of cooperation between the two countries is facilitating the transportation and transit of cattle and livestock. He also pointed to the North-South Corridor Development Plan and said: The volume of freight transport in this corridor in 2018 was eight times more than the volume in 2017, and it increased by 63% in the first six months of 2019.