BAKU (Dispatches) - Azerbaijan and Iran are keen on the implementation of mutually beneficial business projects in a bid to stimulate trade volume.
Iranian Minister of Economic Affairs and Finance Farhad Dejpasand said, "Over 70 percent trade growth between Iran and Azerbaijan over the past year indicates the development of mutual relations.”
Dejpasand noted that the two countries will expand cooperation in the insurance sector and create a joint investment fund.
"Partnerships in the insurance industry will help citizens and companies to build businesses. The states will guarantee their property and finances. This will increase mutual investment,” he added.
Referring to the cooperation in transport, he stressed that the construction of the Qazvin-Rasht-Astara (Iran)-Astara (Azerbaijan) railway, a key component of the North-South International Transport Corridor, is underway. "In particular, Qazvin-Rasht section has already been put into operation. Work continues in the Rasht-Astara section.”
In his words, the construction of the Rasht-Astara section will be completed in the next two years and the railway systems of Iran and Azerbaijan will be connected.
Dejpasand emphasized that commissioning of this railway will give a powerful impetus to the development of the non-oil sector in both countries.