Azerbaijan is located to one of the most strategic location in South Caucasian region, so Azerbaijan's importance is not being neglected by any country in the world.

This statement told by, Malik Ayub Sumbal a Political Analyst, Presenter and Award Winning Journalist to Axar.az during his comment on Iran, Azerbaijan agree on banking cooperation.

“In the international arena Azerbaijan image has been emerged as a peaceful and modern Eurasian country that has based on the interfaith harmony and tolerance. So internationally Azerbaijan has a great image and everyday this country has been emerging as a leading country in the South Caucasian continent.”

According to Sumbal there is a huge potential of economic cooperation between Iran and Azerbaijan and Iran realized this fact.

“There is 74 percent increase in the trade between Iran and Azerbaijan and its increasing day by day. After the completion of Rasht-Astara railway project this trade will be double and both the countries will get its fruits” – he added.

Axar.az reports that, Iranian Minister of Economic Affairs and Finance (MEAF) Farhad Dejpasand met and held talks with Shahin Mustafayev, Minister of the Economy and Industry of the Republic of Azerbaijan in Tehran on Tuesday.

The Iranian economy minister called for signing a bilateral monetary and financial agreement and the development of banking cooperation between Iran and Azerbaijan, saying that the cooperation in economic field should be at the same level as the political relations between the two countries.

The Azerbaijani Minister of Economy Shahin Mustafayev, referred to a 74% increase in trade between the two countries last year, putting the value of the bilateral trade at $450 million, while saying that of a total $450 million, $420 was the value of the Iranian exports to Azerbaijan. He furthermore called for increasing bilateral trade to new levels.