Economy & Politico

good news iran: Iran, Azerbaijan sign agreement on infrastructural projects

Following a three-day visit of Iran Minister of Transport and Urban Development and his delegation to Azerbaijan on January 24, the two sides agreed on joint infrastructural projects targeting at increased transit.

In the second day of visit on January 25, the agreement for construction of a road bridge over the Astarachay River at the border of the two countries was signed by Kheirollah Khademi, Iran Deputy Minister of Transport, and Rahman Hummatov, Deputy Minister of Digital Development and Transport of the Republic of Azerbaijan.

Afterwards, the groundbreaking ceremony was inaugurated by Iran Transport Minister, Rostam Ghasemi, and Azerbaijan First Deputy Prime Minister, Shahin Mustafayev.

The construction of the bridge over Astarachay River will finish by the end of the year, Shahin Mustafayev stated.

Despite the pandemic, “Iran-Azerbaijan trade turnover during last 11 months has demonstrated 30 percent increase and road transport has also increased by 62.5 percent”, Mustafayev added.

“Development of transport and transit are beneficial to both countries”, Rostam Ghasemi mentioned.

Pointing to the high capacities for transport and transit between Iran and Azerbaijan, Rashad Nabiyev, Azerbaijan Minister of Digital Development and Transport called the launch of Persian Gulf-Black Sea International transport and Transit Corridor as a successful representation of mutual cooperation.

Nabuyev also emphasized on completion of unfinished projects in order to advance infrastructural developments needed for acceleration of transport and transit.

The friendly relationship between Iran and Azerbaijan would expand bilateral projects and cooperation in various fields.

Iran and Azerbaijan Joint Economic Commission will facilitate the grounds and deepen economic relations. It is going to be held in next 45 days in Baku.

Moreover, in this visit, the two sides discussed decrease of tariffs, investments in Astara’s Terminal (Iran), and export of technical and engineering services by Iranian companies to Azerbaijan’s territory particularly in Karabakh.

In video-conference meeting, Ilham Aliyev, the President of Azerbaijan pointed to the establishment of 3+3 format in the Caucasus initiated by Russia for increased regional cooperation. The format comprising Armenia, Azerbaijan, and Georgia and their three big neighbors including Russia, Turkey, and Iran will address the issues of security, unblocking economic and transport ties.

Previously on 21 November 2021, Iran Minister of Transport and Urban Development, Rostam Ghasemi, and Azerbaijan First Deputy Prime Minister, Shahin Mustafayev, as the heads of Iran and Azerbaijan Joint Economic Commission met to strengthen their mutual relations in different fields including transport and transit, and running infrastructural projects. Subsequent to the meeting, Iran President and Azerbaijan Prime Minister met on November 28 in Ashgabat on the sideline of ECO Summit.

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