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EghtesadOnline: President Ilham Aliyev said the two countries had good economic progresses and in the past year trade volume between the two states increased more than 70 percents.

According to IRNA, he made the remarks in a joint press conference with President Hassan Rouhani here on Sunday.

Aliyev said that two documents were signed between Iran and Azerbaijan Republic on Sunday which pave the way for consolidation of relations, and appreciated Iran for starting investment in Azerbaijan Republic.

He said that the issue of north-south corridor is important, adding, 'The plan will have remarkable influence on the regional countries.'

'With regards to electricity and energy, the two countries have done good moves and today electricity lines between the two states have been connected and in relations with oil and gas also there are good possibilities and investment.

Referring to Iran's investment in Azeri oil well, President Aliyev said that the two sides exchanged views on joint oil drilling and exploitation projects.

'We declared this year as the year of Islamic solidarity and we try to consolidate this solidarity,' the Azeri president added.

He added that Islamic solidarity meeting will be held next month in Baku and invited Iranian athletes to participate in the event.

President Aliyev called his visit to Iran as influential for the development of bilateral relations, and invited President Rouhani to pay an official visit to Azerbaijan Republic.

Ilham Aliyev Iran-Azerbaijan trade