AZERBAIJAN, IRAN TO BOOST TRADE TO $1 BLN

RIA Novosti
December 14, 2009
Baku

Azerbaijan and Iran have set an ambitious goal of expanding bilateral
trade to $1 billion from the current $600 million, the countries’
foreign ministers said on Monday.

According to the Baku-based Trend news agency, Iran’s Manouchehr
Mottaki and Azerbaijan’s Elmar Mamedyarov, who met earlier on Monday
in Tehran, said the two countries were successfully cooperating in
industry, the energy sector and trade.

They offered no indication, however, when the $1 billion trade target
could be achieved.

The ministers also said they had agreed to establish rail service
between Astara (Iran) and Astara (Azerbaijan) and extend the railway
line to the Persian Gulf as part of the North-South Project, and
discussed energy cooperation, in particular, prospects for Iran
entering CIS energy markets.

Iran and Azerbaijan also agreed to expand cooperation in the natural
gas sector.

Mottaki said Iran was ready to offer mediation in the Nagorny Karabakh
conflict between Armenia and Azerbaijan.

The two foreign ministers said they were pleased with "the high level
of cooperation between the two countries."

From: Emil Lazarian | Ararat NewsPress