Iranian ICT Minister in Baku
27 December 2016

Iran's ICT Minister Mahmoud Vaezi, who is on a visit to Azerbaijan, has called on entrepreneurs from his country and neighboring Azerbaijan to make joint investment in Azerbaijani Nakhchivan Autonomous Republic. The Iranian Minister this morning also met with Azerbaijani President, Ilham Aliev.

Vaezi is in Baku to attend the 11th meeting of the Azerbaijani-Iranian intergovernmental commission on economic, trade and humanitarian issues discussing opportunities for expansion of bilateral ties. He will visit Nakhchivan on the third day of his ongoing visit to Azerbaijan.

Trend News Agency reports from Baku that Iranian companies have invested USD 2.6 billion in Azerbaijan's economy. Of this $145 million was in the non-oil sector of Azerbaijan. Around 450 companies with Iranian shares operate in Azerbaijan, the agency said.

Trade turnover between Azerbaijan and Iran amounted to USD 175 million in January-November 2016, USD 130.13 million of which was made up of imports from Iran, according to the State Customs Committee of Azerbaijan.

source: with agencies

photo: Iran's ICT Minister Mahmoud Vaezi met President Ilham Aliev of Azerbaijan in Baku on 27 December 2016 (picture courtesy of the press service of the president of Azerbijan)