Mahmoud Vaezi
Economy, Domestic Economy

Call for Investing in Nakhchivan

Iran’s Communications and Information Technology Minister Mahmoud Vaezi, who is on a visit to Azerbaijan, has called on entrepreneurs from his country and the neighboring Azerbaijan to make joint investment in Azerbaijan’s Nakhchivan Autonomous Republic.
Vaezi, who co-chairs the Azerbaijan-Iran Economic, Trade and Humanitarian Commission, told Trend News Agency that the ongoing visit is aimed at facilitating trade ties between the two countries.
Elaborating on plans for broadening trade ties, he said Azerbaijan’s Nakhchivan enjoys trade potentials and that he will visit the autonomous republic to discuss investment-related issues.
Nakhchivan is a landlocked enclave of Azerbaijan with a population of 430,000 people.
The minister expressed Iran’s readiness to boost cooperation between the two countries concerning Nakhchivan in various fields, including gas, transportation and medicine.
Stating that he will lead a large economic delegation of Iran’s private sector during his upcoming visit to Nakhchivan on Dec. 29, Vaezi added that a document on cooperation between the two countries will be signed in the autonomous republic.
The minister added that he is also slated to review the construction process of a dam over Aras River in Nakhchivan’s Ordubad.
Iran and Azerbaijan earlier agreed to cooperate on the construction of two plants near Aras River that borders the Iranian town Marazad and Nakhchivan’s Ordubad.
Vaezi arrived in Baku to attend the 11th meeting of the joint intergovernmental commission for discussing opportunities for expansion of bilateral ties. He will visit Nakhchivan on the third day of his current visit to Azerbaijan.
Iranian companies have so far invested $2.6 billion in Azerbaijan’s economy. As much as $145 million of the total amount has gone to the non-oil sector of Azerbaijan. This is while some 450 joint ventures are active in Azerbaijan.
Trade turnover between Azerbaijan and Iran amounted to $175 million in January-November 2016, $130.13 million of which accounted for imports from Iran, according to the State Customs Committee of Azerbaijan.

Short URL : https://goo.gl/wrnd3K
  1. https://goo.gl/hJSGOY
  • https://goo.gl/yYKbzE
  • https://goo.gl/4hWvAX
  • https://goo.gl/2EKYE6
  • https://goo.gl/5Fr9FT

You can also read ...

Support for  Forex Measures
The head of Competition Council welcomed efforts made by the...
The looming crisis in the emerging markets, set off by the run on the Turkish lira, has had a more direct impact on the Iranian rial than anything the US has claimed.
Since the beginning of the fiscal 2018-19, the Iranian rial...
Yu Chang Hwang (L) and Mohammad Reza Bakhtiari
South Korea’s new ambassador to Iran, Yu Chang Hwang, said...
CBI: Currency Inflow Growing Steadily
Governor of the Central Bank of Iran said on Saturday that...
UK Firm: Progress Made With Iran Airport Contract
UK-based security solutions supplier Westminster Group said it...
Without Waivers, US Sanctions on Iran Will Cripple Iraq
Iraqi officials, struggling to form a new government months...
Uber in Talks to Buy Food-Delivery Company
Uber Technologies Inc. is in early talks to buy food-delivery...
Aston Martin Aims to Steer  Around Brexit to $6.7b IPO
Luxury British carmaker maker Aston Martin is seeking a price...

Add new comment

Read our comment policy before posting your viewpoints