The Azerbaijan Export and Investment Promotion Foundation (AZPROMO) and the Organization for Investment, Economic and Technical Assistance of Iran (OIETAI) have signed a Memorandum of Understanding on the establishment of a working group on cooperation in the field of investment, the Ministry of Economic Development of Azerbaijan announced.
The document was signed during the meeting of Shahin Mustafayev, Minister of Economy and Industry with Iran's Minister of Economic Affairs and Finance Ali Tayebnia in Baku.
The working group will support expansion of investment relations between the business circles of Azerbaijan and Iran, Interfax-Azerbaijan reports.
The sides also exchanged views on expansion of the development of cooperation in industry, agriculture, energy, alternative energy and transportation.
At the meeting it was noted that 108 documents, including more than 30 documents in the economic sphere, have been signed between the two countries.
Currently, 447 companies with Iranian investment operate in different sectors of the economy in Azerbaijan.
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