Azernews.Az

By Sara Rajabova

Iran urged Azerbaijani investors to invest in the development of gold and copper fields in Ardabil province, especially in the Meshginshehr and Sareyn regions.

The Meshginshehr region is rich in gold and copper, and there are favorable conditions for investments,Iranian ambassador to Azerbaijan Mohsen Pakayin told Trend Agency on April 1.

From an economic point of view, joint investments by the Azerbaijani and Iranian investors in the gold and copper deposits of this region are appropriate, he said.

Pakayin noted that due to the location of the Meshginshehr region at the bottom of the Savalan Mountain, it is also possible to invest in the tourism sector of this region.

"The region has nine medical sources, as well as more than 420 historical monuments. There are favorable conditions for investing in tourism and opening hotels and entertainment centers," Pakayin said.

He also said the city of Sareyn and its surroundings have favorable conditions for tourism development, and this place has always been the focus of Azerbaijani tourists.

Pakayin also said the leadership of the Ardabil province is implementing a program to support foreign investors,especially Azerbaijanis.

The Iranian embassy in Azerbaijan, together with the leadership of the Ardabil province,is ready to assist in providing the Azerbaijani investors with the necessary investment privileges in Sareyn and Meshginshehr, he added.

Pakayin paid a visit to the province of Ardabil last week and met with the parliament representatives and chief executives of the Meshginshehr and Sareyn cities.

Azerbaijan and Iran have had diplomatic relations since 1918. Iran recognized Azerbaijan's independence in 1991, and diplomatic relations between the two countries were established in 1992.

Data from the State Customs Committee of Azerbaijan shows that trade turnover between the two countries amounted to $281.03 million in 2013, which is 6.13 percent higher than 2012. The figure stood at $263.785 million in 2012.

Iran imported $73.347 million worth of goods from Azerbaijan in 2013, while its exports to Azerbaijan stood at $207.683 million during the same period.

Iran's trade turnover with Azerbaijan in the first eleven months of 2013stood at $470 million ($448 million exports and $22 million imports), Iran's customs administration's latest report shows.

The statistics of Iran's customs administration are based on the official rate of rial/USD which is different from the free market rate.