Tehran, Baku study ways to expand all-out economic co-op

  27 October 2017    Read: 554
Tehran, Baku study ways to expand all-out economic co-op

Iranian Finance and Economic Affairs Minister Masoud Karbasian and Azerbaijan’s Economy Minister Shahin Mustafayev have attended a meeting of joint economic commission of the two countries in Baku.

During the meeting on Oct. 26, the sides discussed expansion of cooperation in various sectors including transportation, agriculture and health.

Masoud Karbasian during the meeting mentioned that the construction of Qazvin-Rasht railway has been completed by 95 percent and the segment is expected to come on stream over the next four months.

Speaking about Iran’s capabilities in agriculture sector he called for broadening cooperation in this sector.

He expressed the interest of Iranian experts to work in Azerbaijan’s agriculture sector and said that Iranian farmers have the experience of farming in foreign countries such as Ukraine, Kazakhstan and Brazil as well as South Africa.

According to the minister, the scheme includes hiring local labor force and transferring technology to develop the agriculture sector.

Karbasian further touched upon the opportunities to cooperate in medical sector and said Iranian experts are interested in transferring their experience to Azerbaijan.

He hailed Azerbaijan’s breakthrough in equipping its hospitals and health care centers with the most advanced technologies and said the knowledge of Iranian experts could help improve the quality of the health services.

The Iranian official further touched upon the growing volume of bilateral trade between the two countries and said using national currencies in bilateral trade could contribute to widening the current level of trade.

The minister also discussed the possibility of creating a free trade zone in Iranian city of Astara to help increasing the volume of trade.

He further expressed hope that the construction of a pharmaceutical joint venture in Azerbaijan’s Pirallahi industrial park would be accelerated following the recent meeting.

Karbasian heading a high ranking economic delegation arrived in Baku on Oct. 26 on a two-day official visit.

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