“As you know, Iran has invested $2.7 billion in the Azerbaijani economy, but most of this investments account for the oil sector. They amount to $2.6 billion, and Iranian companies have already received a $1.7-billion income from these investments,” Mustafayev said.
“Investments in Azerbaijan’s non-oil sector from Iran amounted to only about $150 million, which does not satisfy either of the sides. Therefore, we – both the Iranian and the Azerbaijani sides – aim at increasing investments in the non-oil sector.”
The two countries have already created several joint ventures and their number will increase in the future, according to the minister.
On the other hand, the last business forums in Ardabil and Urmia showed that Azerbaijani companies are also interested in operating in Iran, Mustafayev said.
Azerbaijani delegation headed by Minister of Economy Shahin Mustafayev visited Iran on Feb. 22-23. The parties discussed expansion of cooperation in various areas.
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