IRNA - Tehran and Baku are expected to sign 12 cooperation documents during Iran-Azerbaijan joint economic commission currently underway in the Iranian, said Iran's minister of finance and economic affairs on Tuesday.

Masoud Karbasian said working groups, including economic, trade, banking, transportation, communication, energy, water, agriculture, science and research committees will also be established during the two-day gathering.

Karbasian and his Azeri counterpart Shahin Mustafayev attended the opening ceremony for Iran-Azerbaijan joint economic commission.

The Iranian minister said that both presidents in the two neighboring nations are determined to boost banking cooperation and he expressed hope for the issue to be discussed during the event.

In the meantime, the Azeri minister referred to the religious and traditional commonalties of Iran and the Republic of Azerbaijan, citing Norouz as one of these traditional commonalities.

Mustafayev said the level of mutual cooperation between the two countries has been on the rise during the past four years.

He added that during the same period presidents of the two countries have met 10 times.