Tehran, Baku sign MoUs on economic cooperation

Nov 17, 2010 12:00 AM

Iranian President Mahmoud Ahmadinejad and his Azeri counterpart Ilham Aliev in a meeting in Baku inked two Memoranda of Understanding (MoUs) on economic cooperation between the two neighboring countries. Iran's Foreign Minister Manouchehr Mottaki and his Azeri counterpart were also present in the meeting. Based on the agreements, the two sides will bolster and expand economic cooperation in the transportation, oil and gas fields. President Mahmoud Ahmadinejad left Tehran for Baku on Wednesday morning to attend summit on Caspian Sea littoral states.
Heads of Caspian Sea littoral state in their third meeting in Baku try to draw up a suitable legal regime for the Sea in order to make proper use of common natural resources.

Tehran and Baku have sought to expand their ties, specially in trade and economic fields, and signed several cooperation agreements earlier in 2011. Iranian Interior Minister Mostafa Mohammad Najjar, heading a high-ranking delegation, visited Baku in May 2010 and signed several Memoranda of Understanding (MoUs) in different grounds. Also, Iranian Minister of Culture and Islamic Guidance Mohammad Hosseini paid a visit to Baku in July, 2010 and met with senior Azeri officials to discuss bilateral ties and cooperation, in cultural fields in particular.

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