Bonyad Hosseinov: Bilateral trade volume between Iran and Azerbaijan increased by 74%

Bilateral trade volume between Iran and Azerbaijan increased by 74 percent, Azerbaijan’s ambassador to Iran Bonyad Hosseinov said speaking during the meeting with the Head of Tabriz’s Chamber of Commerce Younes Zhaeleh.

Report informs citing Mehr that referring to the cultural capacities and commonalities of Iran and Azerbaijan, Hosseinov expressed hope that two countries expand bilateral economic and trade relations by taking the advantages of the business opportunities and capabilities of economic activists.

He mentioned that bilateral trade volume between Iran and Azerbaijan increased by 74 percent last year, adding that there are now more opportunities to expand bilateral cooperation in both countries for business and economic activists.

Emphasizing that the presidents of the two countries have met 12 times in recent years to enhance bilateral relations, Azerbaijan’s ambassador noted that both sides have taken effective steps to expand relations and Iran and Azerbaijan should to utilize the capacities in the private sector to develop relations.

The most important factor in the development of export is the road and transport sector, he added, saying that Iran and Azerbaijan’s transit cooperation will promote the export capacities of two countries.

Hosseinov also announced the serious cooperation between Iran and Azerbaijan to launch a joint railway, adding that there are good investments in this sector by two countries which can be effective in developing bilateral relations and accessing international markets.

160 MoUs have been signed between Iran and Azerbaijan so far, he added.