Baku to host Azerbaijani-Iranian business forum

Entrepreneurs of Azerbaijan and Iran will meet again at the governmental level, the 7th of August in Baku. The last time a business forum with participation of representatives of the private sector of both countries was held a few years ago.

The forum was organized by the Foundation to Encourage Exports and Investment in Azerbaijan (AZPROMO) with the support of the Ministry of Economy and Industry. To participate in the forum in Baku representatives of about 50 Iranian companies will come, the fund reported. These companies operate in sectors such as trade, food industry, agriculture, engineering, construction, transport and logistics, ICT, health, etc.

6,870 companies with foreign capital operate in Azerbaijan, 5.6% of which represent the Iranian capital.

In 2013, trade between the two countries amounted to over $ 280 million, with the balance in favor of Iran's turnover - $ 134.4 million from Iran were supplied goods worth $ 207.6 million, which is 17.7% more than in the previous year . Iran imported mainly clinker and cement, fruits and vegetables, fertilizers, polyethylene, polyvinyl chloride, synthetic fabrics, etc. Main export from Azerbaijan to Iran is a natural gas and electricity.

In the first half of this year, the volume of import-export operations between the two countries amounted to $ 94 million, $ 46 million less than in the comparable period of 2013.

Iranian companies built up investments in Azerbaijan's economy in 2013. For the year $ 123.8 million was invested, which is 54% more than in 2012. In the previous 2010-2011, Iran did not invest in Azerbaijan. - 08B-