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Azerbaijan, Iran To Boost Trade To $1 Bln

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  • Azerbaijan, Iran To Boost Trade To $1 Bln

    AZERBAIJAN, IRAN TO BOOST TRADE TO $1 BLN

    RIA Novosti
    December 14, 2009
    Baku

    Azerbaijan and Iran have set an ambitious goal of expanding bilateral
    trade to $1 billion from the current $600 million, the countries'
    foreign ministers said on Monday.

    According to the Baku-based Trend news agency, Iran's Manouchehr
    Mottaki and Azerbaijan's Elmar Mamedyarov, who met earlier on Monday
    in Tehran, said the two countries were successfully cooperating in
    industry, the energy sector and trade.

    They offered no indication, however, when the $1 billion trade target
    could be achieved.

    The ministers also said they had agreed to establish rail service
    between Astara (Iran) and Astara (Azerbaijan) and extend the railway
    line to the Persian Gulf as part of the North-South Project, and
    discussed energy cooperation, in particular, prospects for Iran
    entering CIS energy markets.

    Iran and Azerbaijan also agreed to expand cooperation in the natural
    gas sector.

    Mottaki said Iran was ready to offer mediation in the Nagorny Karabakh
    conflict between Armenia and Azerbaijan.

    The two foreign ministers said they were pleased with "the high level
    of cooperation between the two countries."

    From: Emil Lazarian | Ararat NewsPress
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