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Event on investment opportunities in Iran, Azerbaijan due in Baku

2 November 2016 10:28 (UTC+04:00)
Event on investment opportunities in Iran, Azerbaijan due in Baku

By Laman Ismayilova

The National Confederation of Entrepreneurs (Employers) Organizations of Azerbaijan will host a conference on promotion of investment opportunities in Iran and Azerbaijan in Baku, Azertac reported.

The conference scheduled for November 10-11 will feature a number of panel discussions involving Azerbaijani and Iranian investors, Azertac reported.

The conference aims to ensure the execution of bilateral agreements signed by the two countries and bring Azerbaijani and Iranian investors closer to each other.

The event will be organized in partnership with the Organization for Investment Economic and Technical Assistance of Iran, Azerbaijan Export and Investment Promotion Foundation, Azerbaijan`s Ministry of Foreign Affairs, Iran`s Embassy in Baku and Georgian International Academy of Science.

The volume of trade turnover between the two countries soared by 70 percent over the first seven months of the current year.

The trade turnover between Azerbaijan and Iran amounted to $105.7 million in January-July 2016, more than $77 million of which accounted for imports from Iran, according to Azerbaijan’s State Customs Committee. Azerbaijan's exports to Iran almost doubled to $14.4 million in the first quarter of 2016, while imports increased from $19.4 million in 2015 to $27 million in 2016.

Agriculture, banking sector, pharmaceutics, as well as cooperation in the international North-South transport corridor are the main areas that the two states are focused on.

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