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Azerbaijan, Iran develop economic ties

20 November 2015 16:32 (UTC+04:00)
Azerbaijan, Iran develop economic ties

By Vusala Abbasova

Azerbaijan has offered Iran to use its logistics center located in Kazakhstan's Aktau.

The offer was voiced at a meeting between Azerbaijan's Economy and Industry Minister Shahin Mustafayev and the delegation headed by Governor of Iranian Gilan province, Mohammadali Najafi, on November 18.

Iran’s using of Azerbaijani logistics center is expected to favor the development of political and economic ties between the two countries.

During the meeting, Mustafayev further noted the importance of constructing the railway line between Azerbaijan and Iran, which the first phase of the coordination is planned to complete in the first quarter of 2016.

The minister also stressed that the Bilasuvar and Astara border checkpoints will move to the 24-hour operation.

In turn, Najafi said that certain work was done for the expansion of ties between the two countries in a short period of time.

He said that the Anzali Port and Special Economic Zone of Iran create opportunities for agricultural exports to third countries.

The sides also discussed the issue of holding next Azerbaijani-Iranian business forum and exhibition as a part of the next visit of the Iranian delegation.

Trade turnover between Azerbaijan and Iran amounted to $98.8 million in January-October 2015, more than $72 million of which accounted for imports of Iranian products, according to the State Customs Committee of Azerbaijan.

The trade turnover between the two countries has fallen by almost 39 percent over the current year.

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