Iran’s President visits Azerbaijan
They are looking to expand production at a shared high-voltage power station as well as planning to enter international oil and gas markets together.
Iran has the world's second largest reserves of crude oil. The leaders of both countries said they were keen to work together in ensuring security and peace in the region.
“I was happy to accept the invitation of Ilham Aliyev to come here to Azerbaijan. The agreements we are signing will help ensure stability in the region. We are happy with our current relations. They are based on common religious values, and historic and cultural roots,” stated Mahmoud Ahmadinejad.
“We have discussed security and our work in the Caspian region. And we see that we have similar views on many of these issues. All the agreements that were previously signed before have been put into practice. We have enjoyed good relations up to now, but this summit takes them to another level with the signing of a number of investment contracts,” said Ilham Aliyev, President of Azerbaijan.