President Rouhani, heading a delegation, traveled to Baku on Wednesday at the invitation of his Azeri counterpart Elham Aliyev.
Based on the statement, President Rouhani and Aliyev discussed avenues to bolster bilateral ties as well as the ongoing developments in the region and around the world.
The two sides called for further cooperation aimed at establishing sustainable stability and security in the region, it added.
According to the statement, further expansion of mutual relations in political, trade, economic, cultural and humanitarian arenas were stressed by the two.
The two also underlined the need for activation of joint economic commission to help further boost economic and trade cooperation, it added.