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8 August 2016

Trend

Russia, Iran and Azerbaijan have agreed to strengthen cooperation in various spheres of economy, energy and transport, according to a draft declaration obtained by RIA Novosti.

The parties intend to strengthen comprehensive cooperation in various sectors of the economy based on the principles of equality and mutual benefit, according to the declaration.

The parties reaffirm the importance of further strengthening of regional and international cooperation in the field of protection and promotion of investment and underline the need to maintain a favorable environment, including the improvement of banking cooperation, which will facilitate the implementation of investment projects and attraction of new technologies, read the draft declaration the leaders of the three countries must approve following the summit in Baku.

It is also noted that in order to contribute to the economic growth of the region and international energy security, the parties intend to intensify cooperation in the field of energy and transport with the aim to develop regional and international energy and transport corridors.

The parties emphasize the need for contribution by Azerbaijan, Iran and Russia into the stable functioning of regional and international natural gas markets and advocate a better cooperation in this area, including through the transfer of technologies in the sphere of development of transportation and gas delivery, according to the document.

In this context, Russia, Iran and Azerbaijan intend to continue strengthening cooperation and interaction both within the framework of international organizations and in bilateral, as well as trilateral formats, the document read.