Tehran, Baku sign economic MOUFebruary 23, 2009 - 22:16 AMT PanARMENIAN.Net - Foreign ministers of Iran and Azerbaijan signed a memorandum of understanding in Baku on Thursday at their 7th joint economic commission.The 114-article deal stipulates the ways for the promotion of ties in the fields of trade, transportation, urban development, gas and oil, petrochemicals, agriculture, industry, banking, environment, culture, tourism, health, and education. Iranian Foreign Minister Manouchehr Mottaki referred to signing the MOU as` a positive step' towards the expansion of bilateral relations, adding the deal would augment the two-way annual trade to $1.5 billion from the current $700 million. Azeri official Elmar Mammadyarov said that the sides enjoy great potentials to develop economic cooperation. "Five ad hoc working groups have been formed chaired by the foreign ministers of the two countries to direct the joint economic commission's activities," said Mamedyarov. During his one-day visit, Mottaki also held talks with Azeri President Ilham Aliyev, and Parliament Speaker Ogtay Asadov, Tehran Times Economic Desk reports. Top stories Azerbaijani President Ilham Aliyev arrived in Moscow on April 22 to hold talks with Russian counterpart Vladimir Putin. Authorities said a total of 192 Azerbaijani troops were killed and 511 were wounded during Azerbaijan’s offensive. In 2023, the Azerbaijani government will increase the country’s defense budget by more than 1.1 billion manats ($650 million). The bill, published on Monday, is designed to "eliminate the shortcomings of an unreasonably broad interpretation of the key concept of "compatriot". Partner news | Get Started: An educational platform for young startuppers The Get Started program which operates in two phases is an important platform for young startuppers. Byblos Bank Armenia celebrates Students' Day with scholarship recipients YSU students who received scholarships from Byblos Bank Armenia gathered in a casual setting to meet with the Bank's CEO, Hayk Stepanyan. Azerbaijan extends Rune Vardanyan’s arrest by 5 months A court in Azerbaijan has extended the arrest of former Nagorno-Karabakh leader Ruben Vardanyan by five months. Armenia border residents dissatisfied with delimitation Residents Kirants are dissatisfied with the results of the delimitation of the border between Armenia and Azerbaijan. |