Rufat Mammadov: Iranian companies invested 1.2 bln USD in Azerbaijan's fixed capital

Baku. 10 November. REPORT.AZ/ Baku plays host to the conference "Investment opportunities in Azerbaijan and Iran" today.

Report informs, addressing the conference President of the Azerbaijan Export and Investment Promotion Foundation (AzPromo), Rufat Mammadov said that Iranian companies have invested 1.2 bln USD in Azerbaijan's fixed capital.

"145 million USD of the funds invested in non-oil sector. The two countries have great potential for cooperation in the field of investment. Azerbaijan and Iran have high level relations and cooperation exists in various fields at the state level. Such relations have a positive effect on trade, political and economic collaboration. About 450 investment companies operate in Azerbaijan. This is a very positive development. The investment companies have greater effect on non-oil sector," he said.

In his speech, representative of the Iranian government, Farhad Gasimzade said that Azerbaijan and Iran successfully continue cooperation in many areas: "The two countries cooperate in the field of oil, gas, banking, insurance, agriculture, tourism and construction. 6 memorandums have been signed so far on the mentioned fields. As a part of the memorandums, favorability of the areas to invest in is being studied. We hope that cooperation between Iranian and Azerbaijani investment companies will have a larger perspective."