TEHRAN - Dissatisfied with the $500-million annual trade between Iran and Azerbaijan, Iranian Communications and Information Technology Minister Mahmoud Va’ezi called for beefing up the two-way trade, the IRNA news agency reported on Monday.

Va’ezi noted that measures should be taken briskly to step up bilateral relationships.

He made the remarks in a press conference after holding the 10th Joint Economic Committee meeting in Tehran with Azerbaijan’s Minister of Economic Development Shahin Mustafayev.

This is achievable as all banking obstacles faced by Iranian businessmen will be cleared away over the coming two or three weeks and the two sides should seize the golden opportunity to further their financial and banking collaboration, Va’ezi said.

The minister also emphasized that removing banking obstacles is key to expanding bilateral economic ties, adding that maritime, rail and road transportation and more efficient tariff strategies are among cooperation areas between Iran and Azerbaijan.

“Expanding ties with neighboring countries is on the top of the Iranian government’s agenda and there are numerous grounds for economic and political cooperation between Tehran and Baku,” Vaezi was quoted as saying.

A 100-strong Azerbaijani economic delegation arrived in Tehran yesterday amid a positive outlook towards the future of bilateral economic ties between the two countries.