Agricultural sector could help Tehran, Baku to limit dependence on oil

Agricultural sector could play a key role in the economy of Iran and Azerbaijan as both countries need to become less dependent on oil as far as government revenues go, an Iranian minister said.

Iranian Minister of Agriculture Mahmoud Hojjati Elaborated on Iran's capacity for agricultural production and said the annual output of the country's agricultural sector stands about 112 million tons.

He made the remarks during the Azerbaijani-Iranian business forum in Baku.

Mahmoud Hojjati called on private sectors of both countries to work together on agricultural projects and pledged support for those who do business in the Islamic Republic's agricultural sector.

The minister voiced Iran's intention for expansion of cooperation with Azerbaijan in agricultural sector and added that Tehran remains keen on cooperation with international companies on agricultural projects.

According to the State Customs Committee of the Republic of Azerbaijan the country's export to Iran almost doubled to $14.4 million in 1Q16 year-to-year, while imports increased from $19.4 million in 1Q15 to $27 million in 1Q16.

Source: Trend