Iran Press/ Iran news: He stated, “If we resolve the banking limitations, we will witness a surge in our trade and economic relations.”
The meeting took place in Tehran on Tuesday, where both officials discussed the critical role of Azerbaijan in Iran's foreign policy.
Highlighting the importance of banking cooperation, Hemmati noted that existing banking restrictions due to sanctions pose a challenge to commercial growth. However, he emphasized that both nations can collaborate to foster business relations in other sectors.
According to Shada, Hemmati pointed out that the surge in commercial relations between the two countries hinges on resolving these banking issues. He mentioned Iran's Mir Business Bank in Russia as a potential asset for facilitating economic interactions between Tehran and Baku.
Deputy Prime Minister Mustafayev emphasized the mutually beneficial relationship between Iran and Azerbaijan, which contributes to regional peace and stability.
He highlighted the existing cooperation in energy, transportation, and water management. Mustafayev also revealed that economic exchanges between Iran and Azerbaijan reached $400 million in the first eight months of this year, marking a 28% increase compared to previous periods.
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