713 Iranian companies active in Azerbaijan
Astara, May 12, IRNA – Some 713 Iranian economic companies are operating in Azerbaijan Republic that helps promote bilateral economic relations, said head of Azerbaijan Republic Organization for Exports and Investment.
Astara, May 12, IRNA – Some 713 Iranian economic companies are operating in Azerbaijan Republic that helps promote bilateral economic relations, said head of Azerbaijan Republic Organization for Exports and Investment.
Rafat Mohammadov told a conference themed ‘Role of Railway in Facilitating International Transportation’ late Saturday that the impact of good relations between the two countries' presidents on regional economy is evident as joint investment has increased and political resolves are growing constantly.
“Iran and Azerbaijan Republic are investing 20 million dollars to build an automobile factory in Azerbaijan Republic ,” Mohammadov said, adding that once completed, the factory will be lucrative for both sides.
Baku is one of the tourism destinations of the Iranians who can receive electronic visa to the country, he said.
Railway transportation is one the most significant features of the Iran-Azerbaijan economy, he said, describing construction of passenger terminal in Iran’s Astara railway station as essential.
Meanwhile, representative of Iran-Azerbaijan Republic Joint Economic Cooperation Commission said that Azerbaijan has made an investment to the tune of 312 million dollars in 25 Iranian projects.
Abulfazl Koudei also told the conference that Azerbaijan Republic will invest 500 million dollars in Rasht-Astara railway and 60 million dollars in construction of Astara dock.
The two countries’ trade has increased from 405.342 million dollars in 2016 to 662.350 million dollars in 2017, he said.
Iran is determined to promote trade ties with Azerbaijan Republic, he said, noting that it welcomes any type of foreign investment.
source : irna