Shahin Mustafayev, Minister of Economy of the Republic of Azerbaijan, said the volume of trade with Iran has increased by 30 in the first nine months of this year compared to the same period last year.
(SHADA: TEHRAN) -- At the meeting of the Presidents of the Joint Commission on Economic Cooperation of Iran and Azerbaijan, Mustafayev said: In 2016, the volume of trade between the two countries was 70% higher than 2015.
Pointing to the high level of relations between Iran and Azerbaijan in all political, economic and cultural sectors, he said: Over the past four years, more than 40 documents of cooperation have been signed between the two countries.
Mustafayev further noted that currently 546 Iranian companies are operating in the Republic of Azerbaijan.
The construction of a joint car factory and pharmaceutical plant in Azerbaijan are among these projects, he added.
The meeting of the Presidents of the Joint Commission on Economic Cooperation of Iran and Azerbaijan was held with the presence of Massoud Karbasian, Minister of Economic Affairs and Finance of Iran and Shahin Mustafayev in Baku on Thursday.