Iran, Azerbaijan Poised To Deepen Trade, Transit, And Regional Cooperation

(MENAFN- Trend News Agency) BAKU, Azerbaijan, April 26. Trade, transit, energy, and regional collaboration between Iran and Azerbaijan hold the potential to significantly enhance the capabilities of both nations, said Hossein Pirmoazzen, Vice President of the Iranian Chamber of Commerce, Industry, Mining and Agriculture, and Iranian Co-Chair of the Iran-Azerbaijan Joint Chamber of Commerce, Trend reports.

In an article published on the chamber's official information portal, Pirmoazzen emphasized that Iranian President Masoud Pezeshkian's upcoming visit to Azerbaijan will provide crucial opportunities beyond diplomatic engagement, creating avenues for broader cooperation across various sectors.

He noted that the visit is significant for several reasons. The geographical, cultural, and economic commonalities between the two countries can serve as a successful model for regional trade cooperation, he pointed out.

“Engagement in rail, land, and sea initiatives under the North-South International Transport Corridor framework is of strategic value to Iran. The Iranian president's visit to Azerbaijan can play a vital role in advancing international transit initiatives,” he added.

The chamber official stressed that Iran's current economic strategy is focused on attracting investment, ensuring a secure environment, and expanding private sector collaboration. Initiatives such as the establishment of joint companies, reciprocal investments in energy, agriculture, and technology, as well as the creation of a joint industrial park, could elevate bilateral economic relations to a new level.

“Considering the valuable experience both Iran and Azerbaijan have in oil, gas, and renewable energy, joint projects like gas swaps, construction of border power plants, electricity exchange, and infrastructure development for energy transport could provide a strong foundation for long-term cooperation.

Deepening economic ties with Azerbaijan can serve as a model for Iran's broader engagement with other South Caucasus and Central Asian countries. Such a strategy could mitigate the impact of sanctions, increase the number of economic partners, and reduce trade monopolies.

In general, the Iranian president's visit to Azerbaijan may mark the beginning of a new order in regional economic relations. Prioritizing agreements reached during the visit and maximizing the role of the private sector will be essential,” he concluded.

Iranian President Masoud Pezeshkian is scheduled to visit Azerbaijan on April 28.

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