A large-scale cooperation document has been signed between the Republic of Azerbaijan and the Islamic Republic of Iran within the framework of the 17th meeting of the Joint Commission on Economic Cooperation.
Operative Information Center-OMM reports that the document covers a total of 10 important sectors, including transport, energy, water resources, culture, and social spheres.
The memorandum was signed by Deputy Prime Minister Shahin Mustafayev on behalf of Azerbaijan and Minister of Roads and Urban Development Farzaneh Sadegh on behalf of Iran.
Under the agreement, the parties have agreed to expand their activities in the following directions:
- Transport: Development of road transport, border management, and railway connections;
- Energy: Establishment of a joint working group on oil blocks and coordination of activities;
- Electricity: Integration of the energy systems of Azerbaijan, Iran, and Russia, as well as the export of Azerbaijani electricity to Iran;
- Other areas: Agriculture, customs, industry, investment, tourism, sports, and youth policy.
During the meeting, the acceleration of infrastructure projects and the increase of mutual investment opportunities were also in focus.
The Joint Commission on Economic Cooperation serves as a vital platform for strengthening bilateral ties between Baku and Tehran. Historically, Azerbaijan and Iran have collaborated on significant regional initiatives, particularly the International North-South Transport Corridor (INSTC), which aims to connect India to Russia via Iranian and Azerbaijani territories. This latest memorandum underscores the commitment of both nations to regional stability and economic integration, fostering deeper ties in the South Caucasus and the Middle East.
