Iran and Azerbaijan Set to Hold Joint Economic Committee Meeting Next Week

The head of the Iran-Azerbaijan Joint Chamber of Commerce announced that the two countries will hold a meeting of their joint economic committee in Tehran next week, with Azerbaijani Deputy Prime Minister Shahin Mustafayev attending.

Hossein Pirmoazen, speaking at a meeting with Iran’s ambassador to Baku, said the agenda includes plans to establish a joint logistics hub and an industrial park in the Bileh-Savar free trade and industrial zone on the border, which were agreed during the Iranian president’s recent visit to Azerbaijan, The Caspian Post reports citing Tehran Times.

He noted that while Azerbaijan is professional in negotiations and drafting agreements, implementation of projects has progressed cautiously and requires follow-up.

He stressed that building the joint industrial park is vital to attract investment in the Ardabil free trade zone, highlighting incentives such as tax exemptions, easier import and export procedures, investment security, and access to international markets.

Pirmoazen said both sides have proposed allocating equal land in Iran and Azerbaijan for the park, and Ardabil province is ready to provide the necessary water, electricity and gas infrastructure.

The official also pointed to the planned Ardabil-Baku railway as a potential turning point for boosting agricultural exports from Iran’s northwest to Russia by reducing transport costs and strengthening regional trade links.

Pirmoazen welcomed improved cross-border trade, noting that truck waiting times at the border had dropped from one week to 48 hours. He said round-the-clock customs operations under the joint committee could further increase daily truck crossings from the Bileh-Savar border point, currently about 220.

He added that traditional trade practices hinder export growth by exposing exporters to exchange rate risks, and called for modernized approaches to expand the volume and value of bilateral trade.