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EghtesadOnline: Azeri Minister of Economy Sahil Babayev said on Tuesday that Baku government would provide Iranian businessmen with facilities to develop trade ties with the Islamic Republic of Iran.

Babayev made the remarks in the inaugural ceremony of the Iranian exclusive Trade Exhibit in Baku, reports IRNA.

He said that some 450 Iranian companies have made dlrs 2.6 billion investment in Azerbaijan mainly in the oil sector.

He made it clear that only dlrs 145 million investment has been made in the non-oil sector.

He said that the Iranian and Azeri presidents held seven rounds of negotiations and some 80 diplomatic shuttles have been carried out in the course of which 40 agreements have been signed on trade and economic cooperation.

He said that in the course of exchange of visits by the two presidents, some 20 agreements have been signed indicating the strategic relations between the two countries.

Iran-Azerbaijan trade Sahil Babayev