Baku hosts 15th meeting of Azerbaijan-Iran State Commission on Economic, Trade and Humanitarian Cooperation

The 15th meeting of the Azerbaijan-Iran State Commission on Economic, Trade and Humanitarian Cooperation was held in Baku on 11 March under the co-chairmanship of Deputy Prime Minister of the Republic of Azerbaijan Shahin Mustafayev and Roads and Urban Development Minister of the Islamic Republic of Iran Rostam Ghasemi and with participation of authorized representatives of relevant entities of both countries.

At the State Commission meeting, it was noted that the ties between the two countries are based on friendship, good neighborly and shared moral values.

The presence of high political dialogue between Azerbaijan and Iran, which this year celebrates the 30th anniversary of the establishment of diplomatic relations, was particularly praised. The meeting held between Azerbaijani President Ilham Aliyev and Iranian President Seyyed Ebrahim Raisi within the framework of the Economic Cooperation Organization Summit in Ashgabat on 28 November last year was regarded as a manifestation of this.

It was noted that the two countries are successfully cooperating in various fields, especially in economy, trade, investment, transport and transit, industry, agriculture and other areas.

It was stressed that in 2021, mutual trade turnover has increased by 30% and there are good opportunities for further expansion of trade and economic cooperation in the post-pandemic period.

The importance of joint production and investment projects was highlighted, and it was brought to the attention of the participants that there are prospects for establishing joint manufacturing enterprises in various fields.

The level of cooperation in the transport and transit sector was highly appreciated, the volume of road transport between the two countries increased significantly – by 70% in 2021.

With respect to the importance of the North – South International Transport Corridor, it was noted that both Azerbaijan and Iran have made considerable efforts to launch and further develop this corridor.

At the same time, it was noted that the opening of transport communications in the region creates good opportunities for cooperation. From this perspective, the importance of the Memorandum of Understanding on establishing new communication links between the East Zangezur economic region of the Republic of Azerbaijan and Nakhchivan Autonomous Republic, passing through the territory of the Islamic Republic of Iran, which is to be signed today between the two countries, was highlighted.

Satisfaction was also expressed with the start of work by Iranian companies in the territories of Azerbaijan liberated from occupation.

The level of cooperation in the oil and gas sector was highly appreciated and the importance of transit of Turkmen gas to Azerbaijan through Iranian territory was emphasized.

The results of cooperation in the field of electrical energy industry were highly appreciated and it was noted that the electricity exchange between the energy systems of the two countries is going on successfully. It was noted that relevant work on the project for the creation of an energy corridor between Azerbaijan, Iran and Russia is underway.

The meeting discussed prospects for further expanding mutually beneficial cooperation between Azerbaijan and Iran in various fields.

Extensive views were also exchanged on the construction of a new road and pedestrian bridge over the Astarachay River, the construction of the Khudaferin and Giz Galasy hydroelectric power stations on the Araz River, the implementation of other joint projects, as well as issues on the agenda.

At the same time, the sides signed a Memorandum of Understanding to establish new communication links between the East Zangezur economic region of the Republic of Azerbaijan and Nakhchivan Autonomous Republic, passing through the territory of the Islamic Republic of Iran.

The purpose of the Memorandum is to establish a new railway, road connection as well as communication and power supply lines between the East Zangezur economic region of the Republic of Azerbaijan and Nakhchivan Autonomous Republic, passing through the territory of the Islamic Republic of Iran. To achieve this goal, it is planned to build a total of four bridges over the Araz River, including two road bridges (with a pedestrian crossing) and two railway bridges, as well as communication and power supply infrastructure.

In conclusion, the Minutes of the 15th Meeting of the Azerbaijan-Iran State Commission on the Economic, Commercial and Humanitarian Cooperation were signed.