Vaezi made the remarks in a meeting with Azeri Minister of Economic Development Shahin Mustafayev, IRNA reported.
The two sides also discussed prospect of cooperation in banking, commerce, trade, oil, gas, energy, transportation and customs.
They also discussed launching operations for construction of a pharmaceutical plant in Azerbaijan by Iran and a hospital in the republic by it.
Mustafayev requested growing exchange of visits by Iranian and Azeri tourists and increasing flights.
EghtesadOnline: Iran's Minister of Communications and Information Technology Mahmoud Vaezi says Iran and Azerbaijan enjoy immense capacity for expansion of cooperation in the field of telecommunications and economy.