BAKU, Azerbaijan, October 8. The trade turnover between Iran and Azerbaijan is expected to grow by offering preferential trade discounts for the two countries, Iranian Minister of Roads and Urban Development Mehrdad Bazrpash told Trend.
The minister emphasized that one of the factors that can boost the economic development of the two countries is the provision of discounts in preferential trade.
Bazrpash said that a decision was made to trade goods that are more frequently used in the two countries, a list of products was prepared, and discounts were planned.
He also stated that preferential trade is expected to be announced by the relevant institutions of the two countries within two months.
According to Bazrpash, there is a clear vision on economic relations development between Iran and Azerbaijan.
According to the statistics of the Islamic Republic of Iran Customs Administration IRICA), Iran’s non-oil trade turnover with Azerbaijan amounted to 323,000 tons worth approximately $207 million in the first 5 months of the current Iranian year (March 21 through August 22, 2023), which is a decrease of 33.5 percent in value, while an increase of 1.9 percent in volume compared to the same period last year.
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