News ID: 254762
Published: 0306 GMT June 23, 2019

Iran-Azerbaijan trade hits $417m

Iran-Azerbaijan trade hits $417m

The annual trade between Iran and Azerbaijan reached 417 million dollars during the last Iranian year which ended on March 20, said the secretary of the Iran-Azerbaijan Joint Chamber of Commerce.

Iran is the fourth-biggest exporter of goods to Azerbaijan and this country is also the 18th on the list of top exporters to Iran, Hossein Vosouqi-Irani told Tasnim News Agency.

The official emphasized on the importance of expanding Iran’s cooperation with the neighboring country and said over the past month, a joint venture in the production of cars has begun with the cooperation of the two countries’ private sectors.

He added that there have also been acceptable measures in the field of pharmaceuticals, which is a milestone in joint investment projects.

Iran and the Azerbaijan have accelerated efforts in recent years to forge closer partnership in various areas.

In the recent visit of Azerbaijani President Ilham Aliyev to Iran in 2016, the two sides signed 11 memorandums of understanding and agreements to promote mutual cooperation in a range of fields.

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