Iran’s investments in Azerbaijan reached $760 million, a senior government official said, adding that the spend in the non-oil sector totalled $145 million.

"Some 50 mutual visits have been made and more than 20 documents have been signed between the two countries since the previous meeting of the commission,” Shahin Mustafayev, Azerbaijani Minister of Economy and Industry was quoted as saying in the Trend News Agency report.

“In general, the two countries signed 108 documents, 30 of them in the economic sphere. More than 450 companies with Iranian investments work in Azerbaijan,” he said.