Relations between Azerbaijan and Iran have never been at such a high level as now, said Azerbaijan’s Economy Minister Shahin Mustafayev.
Mustafayev made the remarks on August 6, at a meeting dedicated to laying foundation for a joint car plant with Iran’s Minister of Industry, Mine and Trade Mohammad Reza Nematzadeh.
He said Iran’s investments to Azerbaijan had reached $2.5 billion, including $150 million in non-oil sector.
The minister added that 450 companies with Iranian capital operated in the country.
Relations between the two countries have been developing successfully, in particular, over the past two years, encouraged by the political will of the presidents, he said.
Mustafayev noted that Iran was Azerbaijan’s important trade partner and the trade turnover between the two countries increased by 66% YoY in H1 2016.
He also said that both countries took important steps to promote cooperation in transportation, tourism, industry, energy, finance and other spheres.
Mohammad Reza Nematzadeh, said that both countries had great potential for the development of economic cooperation and this potential should be used effectively.
The minister expressed satisfaction with the conditions created for entrepreneurs in Neftchala industrial quarter. He invited other Iranian companies to take advantage of these conditions. (Trend/Business World Magazine)