(Persia Digest) – The ambassador of Azerbaijan to Iran announced the production of the Khazar brand of cars at the Iran-Azerbaijan joint factory in Baku.

Bunyad Huseynov, Azerbaijan Republic Ambassador to Iran, on the sidelines of his meeting with the members of Tabriz Chamber of Commerce, said Khazar cars (combination of Rana and Dena) are a joint production of Iran and Azerbaijan and soon 10 vehicles will be exported to Russia.

According to Huseynov, the agreement to establish a joint IranKhodro-Azarmash automobile factory was signed in August 2016 and launched during the official visit of the President of the Islamic Republic of Iran to Baku in April last year.

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The production capacity of this factory amounts to 10 thousand cars in a range of models; Iran Khodro Company (IKCO) owns 25% of the production unit and Azerbaijan 75%.

The head of the Tabriz Chamber of Commerce, during the meeting with Huseynov, also announced the launch of the Iranian tractor assembly line in the near future.

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Younes Jaele also stated that the Republic of Azerbaijan can turn into a hub for imports to Iran; up to USD 2BN worth of goods, including corn, barley and oilseeds can be imported from the Republic of Azerbaijan.

He noted: “Azerbaijan can also considerably help the export of Iranian goods to Russia.”

Persia Digest (PD) reports that over the past six years, trade and economic exchanges between Iran and Azerbaijan have grown by 74%.

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