Iran, Azerbaijan Agree on Removing Visa Barriers

Iran, Azerbaijan Agree on Removing Visa Barriers

TEHRAN – 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 visas at the borders and the agreement will be implemented in the near future,” said Vaezi.

The Iranian communications and information technology minister said that the two sides had also negotiated the promotion of banking and tourism relations.

In relevant remarks mid-February, Governor of the Central Bank of Iran Valiollah Seif said that the CBI “plans to establish a completely independent bank in the Republic of Azerbaijan”.

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

The CBI governor said the plan made a branch of the bank Melli Iran in Azerbaijan to an independent Azerbaijani bank.

Elsewhere, in his comments, Seif emphasized that on the agenda for Iran and Azerbaijan are certain plans to use their national currencies in mutual business.

“Central banks of both countries are planning to create accounts in national currencies to facilitate trade between Iran and Azerbaijan,” said the CBI governor.

The branch of the bank Melli Iran began to operate in 1993 in Azerbaijan.

At present, 32 banks (including 15 banks with foreign shares) operate in Azerbaijan and 36 banks (including branches of five foreign banks and one common bank) in Iran.