Iranian and Azeri officials in a meeting in Baku on Saturday signed a memorandum of understanding (MoU) to broaden their mutual cooperation in trade and joint investment.

The MoU was signed in a meeting between the head of the two countries' joint economic cooperation commissions in the Azeri capital today.
Speaking during the meeting, Azeri Economy and Industry Minister Shahin Mustafayev pointed to Iran-Azerbaijan economic ties, and said, "This is a special meeting, attended by the two countries' economic activists, which convenes in pursuant of a recent meeting between the two countries' presidents."
Iranian Communications and Information Technology Mahmoud Vaezi, also speaking in the meeting, said that Iran-Azerbaijan Joint Trade Council has been convened in Tehran so that if the Azeri side also sets up (a similar) council in Azerbaijan the grounds will be paved for the establishment of a joint chamber of commerce.
Vaezi, heading a 60-member economic delegation, is in Azerbaijan at the invitation of Azeri economy and industry minister to attend the 9th Meeting of Iran-Azerbaijan Joint Economic Cooperation Commission.
Earlier this week, Vaezi and Azeri President Ilham Aliyev in a meeting in Baku underlined the need for the expansion of mutual cooperation in various fields.
During the meeting in the Azeri capital on Tuesday night, Vaezi and Aliyev explored avenues for bolstering and reinvigorating bilateral ties.
"Following your visit to Tehran and your effective meetings with President Hassan Rouhani in Davos, Switzerland, and Tehran, the Iranian president has ordered his cabinet members to do their best to strengthen the relations between the two countries and remove the existing barriers impeding the further expansion of the bilateral ties," Vaezi said.
The Azeri president, for his part, said Iran and Azerbaijan can become regional allies through utilizing their capacities.
He pointed to the trend of the expansion of the bilateral ties between Iran and Azerbaijan, and said, "Holding joint economic and cultural commissions will play a crucial role in broadening the bilateral ties."
President Aliyev expressed the hope that his Iranian counterpart would pay a visit to Azerbaijan soon.
Iran has recently enhanced efforts to boost political, economic, security and cultural ties and cooperation with the regional and neighboring countries, specially the Central Asian states, including the republic of Azerbaijan.