Azerbaijan, Iran eye financial and banking cooperation
By Laman Ismayilova
Azerbaijan and Iran mull cooperation in the financial and banking field as Chairman of Central Bank of the Islamic Republic of Iran Valiollah Seif visits Baku, Azertac reported.
Seif already had talks with the country’s high-level officials. The Azerbaijani side was represented in the discussion by Economy Minister Shahin Mustafayev and the leaders of two legal entities of public law –chairman of the Central Bank of Azerbaijan Elman Rustamov and chairman of the Board of Directors of the Financial Market Supervision Chamber Rufat Aslanli.
Last August, Iranian President Hassan Rouhani visited Baku where
the sides agreed to expand financial cooperation and signed several
documents.
During the visit, Valiollah Seif, who accompanied the president,
told Trend that the central banks of the two countries have agreed
to open settlement accounts. The sides may also discuss using
national currencies in bilateral trade.
Azerbaijan and Iran are focused on expanding economic ties in various fields, including industry, agriculture, energy, alternative energy, and transportation.
The trade turnover between Azerbaijan and Iran amounted to $210.76 million in 2016, $49.68 million of which accounted for the export of Azerbaijani goods to Iran, according to the State Customs Committee of Azerbaijan.
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Laman Ismayilova is AzerNews’ staff journalist, follow her on Twitter: @Lam_Ismayilova
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