Tehran, Baku Reach Deal on Reconstruction of Liberated Azeri Towns

Iran’s economy minister and the Azerbaijan Republic’s first deputy prime minister have signed memoranda of understanding on mutual cooperation in various areas.

Iranian Minister of Economic Affairs and Finance Farhad Dejpasand said the two countries are planning to run joint projects in different sectors.

“Our memorandum of understanding includes two parts. The first part is to follow up on the projects we are implementing and finalize our future plans,” he said.

“The second part concerns the participation of Iran’s private sector and utilizing the potential of Iran’s construction sector for restoration, rebuilding and construction [of buildings] in liberated areas in the Azerbaijan Republic,” he added.

“Fortunately, the Azeri side warmly welcomed this offer of cooperation. We can best utilize these potentialities. We are jointly running some projects in Iran and in the Azerbaijan Republic, projects on water, roads and industries, especially the pharmaceutical and machinery industries,” said the Iranian minister.

“They are very good projects, and I hope we will be able to implement them according to the timetable,” he noted.

“I believe today will be a turning point in Iran-Azerbaijan relations. Hopefully, if these programs come to fruition, our foreign trade will take a giant leap, too, because we have more potential that what we are already doing,” he underlined.

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