Iranian and Azeri officials in a meeting in Baku underlined the need for further expansion of economic ties. During the meeting in the Azeri capital of Baku on Tuesday, Iranian Deputy Economy Minister Ali Asgari and Azeri Minister of Taxation Fazil Mamedov explored avenues for bolstering and reinvigorating bilateral ties in the field of economy. During the meeting, the Iranian deputy economy minister pointed to good and friendly ties between Iran and Azerbaijan, and said, \"Keeping in mind the broad spectrum of economic cooperation and the signing of a memorandum of understanding (MOU) on bilateral banning of double taxation would encourage the investors of both countries to have a broader presence in mutual economic transactions.\" The Azeri minister of taxation, for his part, voiced his satisfaction with the Iran-Azerbaijan economic ties, asking for broadening of bilateral ties in the field of economy. Iran has recently enhanced efforts to boost political, economic, security and cultural ties and cooperation with the regional and neighboring countries, specially the Central Asian states. In October, Iranian President Mahmoud Ahmadinejad traveled to Baku to attend the 12th Summit of the Economic Cooperation Organization. The summit was held at the Heydar Aliyev Center in Baku. The Iranian and Azeri presidents met on the sidelines of ECO Summit, where the two leaders underlined the need for rigid efforts to expand bilateral relations and widen mutual cooperation.