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Iran intends to expand investments in the non-oil sector of Azerbaijan`s economy. said Azerbaijani Economy Minister Shahin Mustafayev.
He said that Azerbaijani side is also interested in this. As you know. Iran has invested $2.7 billion in the Azerbaijani economy. but most of the investments are in the oil sector. They amount to $2.6 billion. and Iranian companies have already received a $1.7-billion income from these investments.
Investments in Azerbaijan`s non-oil sector from Iran amounted to only about $150 million. which does not satisfy either of the sides. Therefore. we — both the Iranian and the Azerbaijani sides — aim at increasing investments in the non-oil sector.
The two countries have already created several joint ventures and their number will increase in the future. according to the minister.
On the other hand. the last business forums in Ardabil and Orumieh showed that Azerbaijani companies are also interested in operating in Iran. Mustafayev noted.
He added that Azerbaijan and Iran are to increase air service between the two countries.
Direct flights are planned between Gabala and Orumieh in the near future. he said.
We have well established air links with Iran. Ten flights operate to Tehran. six flights to Tabriz and six flights to Mashhad per week. Currently. we are working on establishing air service between Gabala and Orumieh. All economic and technical aspects of the issue have been discussed. Mustafayev said.
The minister added that the flights will be operated by Azerbaijani and Iranian companies on the basis of the principle of parity.
Azerbaijani delegation headed by Mustafayev visited Iran on February 22-23 during which the two sides parties discussed expansion of cooperation in various areas.
