Iran and Azerbaijan will establish a joint bank to facilitate bilateral trade

Almaty. June 15. Silkroadnews - Iran and Azerbaijan will establish a joint bank in the framework of mutual plans to increase the volume of bilateral trade. This was told by the Iranian ambassador to Azerbaijan Pokoyin Muhsin, reported the Iranian News Agency (IrTAG).
As explained M.Pokoyin "Trade relations with Iraq, Azerbaijan and Turkmenistan" in Tehran and the establishment of a joint bank will be discussed at the negotiations of the head of Central Bank of IRI Waliullah Seif with his Azerbaijani counterpart. At the same time the exact date of the meeting is not informed.
M.Pokoyin noted that currently the government of Iran and Azerbaijan are actively engaged in the promotion of barter transactions between the two countries, as well as their transition into mutual national currencies.
According to him, today in Iran, issued more than 20 thousand permits for export of certain types of goods to Azerbaijan. Iranian producers are exempt from taxes and duties to the state treasury.
M.Pokoyin also reported that the amount of the non-oil trade turnover between Iran and Azerbaijan today is $500 million a year, but in the future it may well pass for $2 billion due to the measures being taken for the development of trade relations of the two neighboring states.