Hemmati said on Tuesday after a meeting in Tehran with Azerbaijan’s Deputy Prime Minister Shahin Mustafayev that the size of trade between Iran and Azerbaijan, which is around $400 million per year, is very low and does not match the state of relations between the two countries.
“Azerbaijan has a special significance for us ... we had some good talks on the role of monetary and banking systems in the expansion of trade,” said the minister.
Hemmati said he and Mustafayev had agreed in their meeting that communication between banking and insurance institutions of Iran and Azerbaijan should expand to allow an increase in trade relations between the two countries.
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