During the meeting today, the Iranian and Azeri top officials explored avenues for reinvigorating mutual cooperation and conferred on the implementation of previously accorded joint projects in the energy sector.

"Following the agreement with the six world powers in Geneva on July 14, we continually receive offers from various countries who desire to make investments in Iran; however, neighbors including Azerbaijan are our top priorities to cooperate with," Rouhani said.

Referring to the role that the North-South corridor can play in consolidating the bilateral ties between the two countries, Rouhani underlined that Azerbaijan can act as Iran's gateway to the Caucasus region while Iran can ease Azeris' access to the Persian Gulf and Oman Sea.

The Iranian President also underscored the vitality of expanding bilateral ties in the oil and energy sector, and said that joint ventures in the Caspian Sea projects can open doors to making mutual investments in new gas and oil projects. 

Mustafayev, for his part, expressed his country's readiness to develop ties with Iran in various sectors like energy, trade, transportation, industry, agriculture, oil, and banking.

The Azeri delegation, including several representatives from oil, telecommunication, banking, and energy companies led by the Minister of Economic Development arrived in Tehran on Monday.

Iranian President Hassan Rouhani and his Azeri counterpart Ilham Aliyev in a meeting in Baku in November 2014, underlined the need for the further expansion of bilateral ties in different areas.

During the meeting, President Rouhani said that Iran and Azerbaijan enjoy abundant capacities for broadening mutual cooperation, and said, "The two sides have ample economic, cultural, political, and international capacities which should be utilized."

He noted that in the previous meetings the two presidents tried to broaden Tehran-Baku relations, and said, "The two sides are serious about using their capacities in the interests of their nations."

Aliyev, for his part, pointed to Iran-Azerbaijan commonalities, and said, "The Azeri government pays special heed to closer relations between the two states and nations in different areas."