11:16 - 2.11.2017

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Azerbaijani President Ilham Aliyev delivered speech at the tripartite summit in Tehran.

Addressing to the summit, the head of state stated that Azerbaijan is the only country in the world, having borders both with Iran and Russia. The geographical position of the countries is an important factor. Azerbaijan has been cooperating successfully with two neighboring states within the framework of international organizations.

"Over Jan-Sept 2017 Azerbaijan’s trade turnover with Russia and Iran has increased significantly compared to the 2016 same term. In the future we need to keep and build upon this positive dynamics. The amount of investments from Iran and Russia in Azerbaijan's economy is growing. After last year's summit Iranian companies have made large investments in the construction of plants on manufacture of cars and pharmaceuticals in Azerbaijan. A Russian company is making large investments in the construction of one more pharmaceutical factory. In turn, Azerbaijan has increased investments in both these countries," the president added.

The Azerbaijani leader pointed out that the three countries are cooperating successfully in oil and gas field, and for more than 20 years Iranian and Russian companies have been involved in development of oil and gas fields in the Azerbaijani sector of the Caspian Sea. Cooperation in the field of electricity is developing as well. Azerbaijan has connected its energy lines with Iran and Russia, and energy systems of Azerbaijan and Russia are functioning in parallel.

"Trilateral cooperation in the transport sector gives good results. This year Azerbaijan has built its railroad to the border with Iran. At the same time, we have constructed and put into operation a railway bridge with length of 82 m across the Astara River. In addition, the Azerbaijani side has taken a long-term lease of a 1.4 km road a on the territory of Iran for construction of terminals on the 35 hectare land plot. This year, the three countries have also accorded tariffs for rail transportation.

Thus, the railway line from the Azerbaijani-Russian border to the border of Azerbaijan with Iran has been brought into full readiness for operation. This railroad is an important part of transport corridor North-South. Simultaneously Azerbaijan is ready to take part in financing the construction of railway line Astara-Resht in Iran. Negotiations with Iran about a $500 million credit agreement on the construction of railway line Astara-Resht and its provision with equipment have concluded successfully recently," President Aliyev said.

The country’s president pointed out that a modern arterial highway Baku - border with Iran will be commissioned next year. The construction of the last section of the main road Baku - border with Russia will be finished next year. Thus, the process of creation of the Azerbaijan section of transport corridor North-South has entered into the final stage. Transport corridor North-South is of great importance for many countries.