TEHRAN (IRNA) — First round of talks on the text of the preferential trade agreement between Iran and Azerbaijan was held via video conference on Tuesday.

Representatives of the two countries’ foreign ministers and the economic expert of Iran’s Embassy in Baku were also present in the talks held by representatives of the Trade Development Organization of Iran and various departments of Azerbaijan Republic’s Ministry of Economy.

Next and final round of talks will be held at a higher level with the aim of finalizing the text and preparing it for the signatures of the two countries the ministers in near future.

The agreement to sign a preferential trade agreement and hold talks between the two countries was reached on the sidelines of Iranian president’s visit to Baku last year to attend the Non-Aligned Movement summit.