There have been positive developments in ongoing oil talks between Iran and Azerbaijan and a deal may be signed in March 2018, Mehr News Agency has reported.

It is hoped an agreement can be concluded when Iranian President Hassan Rouhani vists the Azerbaijani capital Baku in the first days of the Iranian new year.

The Iranian news agency quoted the Iranian Minister of Oil Bijan Namdar Zangane saying that “the Presidents of the two countries of Iran and Azerbaijan are significantly contributing to the bilateral relations of the two countries.”

The minister made the comments during a meeting with Azerbaijani Economy Minister, Shahin Mustafayev, who is currently visiting Iran, Shana informed.

Zanganeh stated that the National Iranian Oil Company has strong relations with the State Oil Company of the Azerbaijan Republic (SOCAR), and expressed hopes to “further develop these relations in the oil and gas sector”.

Meanwhile, Mostafiev praised the role of the two county’s leaders and said, “the relations between Iran and Azerbaijan are expanding with the will of the presidents of the two countries.”