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President Ilham Aliyev: "The volume of investment to Azerbaijani economy by Iran and Russia is growing"

02 November 2017 04:36 (UTC +04:00)

“The trade turnover of Azerbaijan in January-September of 2017 with Russia and Iran increased significantly compared with the corresponding period of 2016. In the future, we need to maintain and increase this positive dynamics. The volume of investment to Azerbaijani economy by Iran and Russia is growing,” said President Ilham Aliyev at the trilateral summit of the presidents of Azerbaijan, Iran and Russia held in Tehran, APA reports.

The Head of State noted that after last year's summit, Iranian companies invested heavily in the construction of car and pharmaceutical plants in Azerbaijan: "Our countries successfully cooperate in the oil and gas sector. For more than 20 years, Iranian and Russian companies have been involved in the development of oil and gas fields in the Azerbaijani sector of the Caspian Sea. Cooperation in the field of electric power industry is developing. Azerbaijan joined its energy lines with Iran and Russia. The energy systems of Azerbaijan and Russia operate in parallel operating mode. The power systems of the two countries are connected by power lines "Khachmaz-Derbend" and "Yalama". And the energy systems of Iran and Azerbaijan are connected via the electric lines Imishli-Parsabad. The agreement on the construction of the Ordubad and Marazad hydroelectric power stations on the Araz river has come into force and is being implemented. The construction of the Ordubad hydroelectric power plant is proceeding successfully. "

The President noted that trilateral cooperation in the transport sector gives good results: “This year Azerbaijan built its railway to the border with Iran. At the same time, we built and commissioned a railway bridge of 82 meters long over the Astara river. In addition, the Azerbaijani side has taken long-term lease on the territory of Iran road of 1.4 km length and an area of 35 hectares for the construction of terminals. This year, tariffs for transportation via railways have been agreed by the three countries. Thus, the railway from the Azerbaijani-Russian border to the border of Azerbaijan with Iran is fully operational. This road is an important part of the North-South transport corridor. At the same time, Azerbaijan is ready to participate in financing the construction of the Astara-Resht railway in Iran. Recently, negotiations with the Iranian side on a $ 500 million loan agreement on the construction of the Astara-Resht railway and supplying it with equipment were successfully concluded.”

The Head of State said that the modern highway Baku-Iranian border will be put into operation next year: "The construction of the last section of the highway Baku-Russian border will also be completed at the highest level next year. Thus, the process of creating the Azerbaijani section of the North-South transport corridor entered the final stage. The North-South transport corridor is of great importance for many countries. "