Three documents of cooperation inked between Iran, Azerbaijan

Baku, March 15, IRNA - At the end of the thirteenth meeting of the Joint Commission on Economic Cooperation of the Islamic Republic of Iran and the Republic of Azerbaijan on Friday, three economic cooperation agreements were signed between the two sides in Baku.

The Memorandum of Understanding (MoU) on the outcome of the thirteenth meeting of the Joint Commission on Economic Cooperation between Iran and the Republic of Azerbaijan was signed by Farhad Dezhpsand, Iran's Minister of Economic Affairs and Finance, and Shahin Mustafayev, the Minister of Economy of the Republic of Azerbaijan.

Also, an agreement on the factory of the manufacturing of parts for automobiles at the Naftchalah Industrial Complex, 168 kilometers south of Baku, by the private company “Ettehad'(Alliance) of Iran and Azarmash Company of Azerbaijan, as well as the construction of a bus production plant in the industrial complex of 'Haji Qabul', 120 km south Baku was signed by Azarmash Company and private company 'Qartal' in Iran.

The Minister of Economy of the Republic of Azerbaijan, Shahin Mostafiev, said the results and agreements reached at the thirteenth meeting of the Joint Commission on Economic Cooperation between the two countries were very important for the future of economic relations between the Republic of Azerbaijan and Iran.

He noted that the Memorandum of Understanding signed at the end of the meeting will include all the agreements reached for the joint economic activities of the two countries in the next year, and “I am confident that joint efforts will be made to take the necessary steps towards the implementation of the agreements.”

'The Islamic Republic of Iran and the Republic of Azerbaijan are two friends and brothers with a very historical background, and today, this historical background should be transformed into a deeper economic relationship, considering the future of the two countries' interactions,' Dejpsand said for his during a speech at the signing ceremony.

He referred to the documents signed at the meeting as indication of strengthening the strategic relations between the Islamic Republic of Iran and the Republic of Azerbaijan and highlighted 'We hope that with the proper action and signing these documents, we will present a common brand between Iran and the Republic of Azerbaijan around the world.”

Iran's Economy and Finance Minister also added, 'Tehran and Baku, as two neighboring countries, will be able to develop strategic relations and achieve long-term goals and provide a suitable route for the development of neighboring countries.”

According to Dezhpsand, “By signing the cooperation documents at this meeting, we were able to expand relations from the field of infrastructure to commercial, banking, insurance and scientific areas”.

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