Iran’s Zarif pledges to expand ties with Baku [UPDATE]
![Iran’s Zarif pledges to expand ties with Baku [UPDATE]](https://www.azernews.az/media/2017/12/01/mohammad-javad-zarif.jpg)
By Trend
Iranian Foreign Minister Mohammad Javad Zarif has vowed to strengthen ties with Azerbaijan.
“We have great relations with Azerbaijan. In addition to the summit, we had a great conversation with his excellency Ilham Aliyev to discuss bilateral and international ties,” he said on the sidelines of the 7th Ministerial Heart of Asia-Istanbul Process in Baku.
He added that Azerbaijan is a good neighbor for the Islamic Republic of Iran and "we will continue these relations seriously."
Azerbaijan and Iran are actively developing the trade and economic cooperation. Iranian companies have invested more than $2.7 billion in the Azerbaijani economy so far, and a major part of these investments accounts for oil sector.
About 450 companies with Iranian capital operate in Azerbaijan.
According to Azerbaijan’s State Customs Committee, the trade turnover with Iran amounted to $200.1 million in January-October 2017, of which more than $180 million accounted for the imports from Iran.
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