Iran, Azerbaijan to Launch Online Marketplace

Iran and Azerbaijan plan to launch a joint website to sell the products of both countries, Iran’s telecoms minister said on October 17. Iran’s Minister of Communications and Information Technology Mahmoud Vaezi met with his Azerbaijani counterpart, Ramin Guluzade, on Monday in Tehran to discuss expansion of cooperation between the two neighboring countries, Fars News Agency reported. “Issues regarding postal systems, electronic commerce and satellites were discussed during talks,” Vaezi said. Trade turnover between the two countries soared by 70% over the first seven months of the current Iranian year (started March 20). According to Azerbaijani officials, Iranian companies have already invested $2.6 billion in Azerbaijan’s economy. About $145 million of the total amount have gone to the non-oil sector.  Some 450 joint companies with Azeri and Iranian shareholders operate in Azerbaijan. Turnover between Azerbaijan and Iran amounted to $137 million in January-September 2016, $34.91 million of which accounted for the export of Azerbaijani goods to Iran, according to the State Customs Committee of Azerbaijan.