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Iran ratifies historic agreement with Azerbaijan

Business Materials 27 December 2016 20:00 (UTC +04:00)

Baku, Azerbaijan, Dec. 27

By Anvar Mammadov – Trend:

Iran’s Parliament has ratified the agreement signed with Azerbaijan to cooperate in construction and operation of the Khudafarin and Giz Galasi hydro systems and hydro power plants on the Araz River and in using energy and water resources.

The announcement was made by Azerbaijan’s Economy Minister Shahin Mustafayev Dec. 27 during the 11th meeting of the Azerbaijan-Iran intergovernmental commission on economic, trade and humanitarian cooperation, held in Baku.

The agreement was signed during Azerbaijani President Ilham Aliyev’s visit to Tehran on Feb. 23. The Parliament of Azerbaijan ratified the agreement in June.

The agreement proclaims the principles of respect for sovereignty and territorial integrity of Azerbaijan and Iran, and equal rights for water and energy resources of Khudaferin and Giz Galasi hydro systems.

The document also highlights the need to restore the territorial integrity of Azerbaijan in accordance with the UN resolutions.

The agreement will provide access for Azerbaijan to its occupied territories and will make it possible to carry out economic activity there. In addition, the agreement once again emphasized the fact that these territories belong to Azerbaijan, and that Armenia has no rights on them.

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