Economy, Domestic Economy
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Broad Areas for Azeri Interaction

Broad Areas for Azeri InteractionBroad Areas for Azeri Interaction

Azeri Minister of Economic Development Shahin Mustafayev held talks Tuesday with three ministers in addition to President Hassan Rouhani.

“In our willingness to broaden cooperation with Iran, a delegation of 30 representatives from my country’s private and public sectors are accompanying me in this trip,” said Mustafayev in a meeting with Minister of Economic Affairs and Finance Ali Tayebnia.

Tayebnia in turn referred to the mutual understanding between the two countries regarding their culture and history and said: “For us Azerbaijan is beyond just a neighbor.”

He viewed the nuclear agreement between Iran and the six world powers as a favorable opportunity for the expansion of ties with Azerbaijan.

“To boost trade and investment, both sides need to increase interaction between their banks and insurances in the first place,” IRNA quoted Tayebnia as saying. He also put forth the idea of forming a joint committee of the deputies and managers of all sectors affiliated to the economy ministries of the two countries, which was welcomed by the Azari side.

Echoing Rouhani’s remarks Tuesday in a meeting with Mustafayev, Minister of Communications and Information Technology Mahmoud Vaezi, who is also the head of Iran-Azerbaijan Commission, said improving relations with neighboring countries is of a particular importance to Iran.

“Among the potential areas of cooperation between the two countries are banking, oil, gas, road and railroad sectors. Iran would also purchase the electricity in excess of Azerbaijan’s need,” Mahmoud Vaezi continued.

Vaezi predicted that bilateral trade will triple by next year from the current $500 million.

In a separate meeting, Minister of Roads and Urban Development Abbas Akhoundi said he believes the northern ports of Anzali and Amirabad have the potential to be tapped by the two countries. “Iran is also ready to put its southern ports of Bandar-e Emam Khomeini and Shahid Rajaee at the disposal of Azerbaijan for goods transit using its railroad system,” Akhoundi said.

The high-ranking Azeri delegation includes representatives from the State Oil Company of Azerbaijan Republic (SOCAR), Azerbaijan Railways, Azerenergy, Central Bank of Azerbaijan as well as scores of private sector traders, Eghtesad News reported.

Financialtribune.com