Azerbaijani entrepreneurs keen for business doing with Iranians

26 December 2016 12:17 (UTC+04:00)

By Nigar Abbasova

Azerbaijani entrepreneurs will pay a visit to Iranian cities Tabriz and Ardabil on January 14-17 to expand relations between businesspeople of the two countries.

 A number of visits with Iranian businessmen are planned to be held within the visit, which will be organized with the support of Azerbaijan’s National Confederation of Entrepreneurs.

Besides, Azerbaijani and Iranian businessmen will come together in Baku for a forum to be organized by Azerbaijan Export and Investment Promotion Foundation (AZPROMO) on December 27.

The event will bring together Iranian entrepreneurs, engaged in the spheres of agriculture, food industry, light industry, pharmaceuticals, transport, logistics, tourism, ICT, construction, production of building materials, and auto spare parts. The forum is expected to contribute to trade, political, and economic collaboration between the countries.

The two countries are eager to develop their non-oil economy, integrate regional transport networks and boost mutually advantageous business projects. Azerbaijan is currently changing its economic policy, switching the focus from the reliance on energy resources to industry, production capacity, and developing its non-oil sector – particularly tourism, agriculture, IT, and transport.

Such spheres as agriculture, banking sector, pharmaceutics, as well as cooperation within the international North-South transport corridor are the main areas that the two states are focused on.

The trade turnover between Azerbaijan and Iran amounted to $175 million in January-November 2016, with some $130.13 million accounting for import from Iran. Iranian companies have so far invested some $2.6 billion, while some $145 million fell to a share of the non-oil sector. Some 450 companies with Iranian capital are operating in Azerbaijan.      

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Nigar Abbasova is AzerNews’ staff journalist, follow her on Twitter: @nigyar_abbasova

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