More than thousand Iranian companies operate in Azerbaijan

  • 14:31 15 March 2019

More than thousand Iranian companies operate in Azerbaijan

“The number of Iranian companies benefiting from the favourable business environment in Azerbaijan rises,” the minister of Economy of Azerbaijan Shahin Mustafayev told, ONA reports.

“1023 Iranian companies have registered in Azerbaijan. In the past period, Iranian investors have invested more than USD 3.4 billion in Azerbaijan. Azerbaijani businessmen also invest in the economy of Iran.  Certainly, one of the mainstream of bilateral cooperation is the trade.  Enduring measures have been taken to develop trade relations. As a result, trade turnover has increased by 74% in 2018 ($ 446 million). Of course, we appreciate this growth positively but taking into consideration the objective potential our intention is to increase further the volume of trade and diversify its structure,” the minister stated.

Shahin Mustafayev added that the transportation and transit sphere is one of the great potentials that promises a successful future in bilateral cooperation: “Significant progress has been made in this area as a result of the political will of the two heads of states and the implementation of the tasks. ”