ECONOMY


Iran invested $2.7bn in Azerbaijan’s economy so far

Baku, February 26, AZERTAC

“Iran has invested 2.7 billion US dollars in Azerbaijan`s economy so far,” Minister of Economy, co-chair of the Azerbaijan-Iran State Commission on Economic, Trade and Humanitarian Cooperation Shahin Mustafayev has told a press conference.

“538 Iranian companies are engaged in various spheres of Azerbaijan`s economy. Azerbaijani companies operate in Iran as well. Iran is an important trade partner of Azerbaijan and the bilateral trade increased 70 per cent in 2016,” Mustafayev said.

He note that President of Azerbaijan Ilham Aliyev attaches great importance to relations with Iran. “The presidents of the two countries have met seven times, Azerbaijani and Iranian delegations have paid around 100 reciprocal visits, 40 documents have been signed and three meetings of the State Commission have bene held over the last three years,” the minister added.

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