Iran, Azerbaijan agree on removing visa barriers

FNA- Iranian Communications and Information Technology Minister Mahmoud Vaezi announced that Tehran and Baku have agreed on easing issuance of visas for the two countries’ nationals.

“Iran and Azerbaijan Republic reached the final agreement to issue visa at the borders and the agreement will be executed in near future,” Vaezi said.

The Iranian communications and information technology minister, meantime, said that the two sides have also held negotiations on boosting banking and tourism relations.

In relevant remarks in mid-February, Governor of the Central Bank of Iran Valiollah Seif said that the CBI “is planning to set up a fully independent bank in the Republic of Azerbaijan”.

“The country plans to establish a bank in Azerbaijan with 100 percent Iranian ownership,” Seif told reporters.

The CBI governor said that the plan involved turning a branch of Bank Melli Iran in Azerbaijan into an independent Azerbaijani bank.

Elsewhere in his remarks, Seif emphasized that certain plans were on agenda for Iran and Azerbaijan to use their national currencies in mutual transactions.

“Central banks of the two countries plan to create accounts in national currencies to simplify the trade between Iran and Azerbaijan,” the CBI governor said.

The branch of Bank Melli Iran started to operate in Azerbaijan in 1993.

Currently, 32 banks (including 15 banks with foreign share) operate in Azerbaijan and 36 banks (including branches of five foreign banks and one joint bank) operate in Iran, Trend concluded.