Iran-Azerbaijan Trade to Hit $5 Billion After Pezeshkian Visit, Says Iranian MP

The head of the Iran-Azerbaijan Interparliamentary Friendship Group, an Iranian lawmaker, announced that bilateral trade between Iran and Azerbaijan is expected to increase to $5 billion following agreements made during President Masoud Pezeshkian’s visit to Baku.

Talking to IRNA, Sadif Badri, mentioned that the current trade volume between the two nations remains under $1 billion. However, during President Pezeshkian’s visit, both sides committed to boosting trade to at least $1 billion by the year’s end, The Caspian Post reports citing local media.

Badri characterized the visit as highly productive, underscoring its favorable effects on economic and trade relations.

He noted that the discussions centered on implementing existing bilateral agreements, further solidifying commercial ties between the two countries.

“The visit was well-received in both countries and across the region,” Badri said, adding that its full benefits will be realized once the seven cooperation documents signed during the trip are put into action.”

He also pointed to a joint statement signed by President Pezeshkian and Azerbaijani President Ilham Aliyev, which outlined a mutual commitment to eliminating obstacles to stronger economic cooperation.

President Pezeshkian has previously said his visit to Baku last Monday, would pave the way for enhanced cooperation in scientific, economic, cultural and security fields.

During his visit, President Pezeshkian held discussions with Aliyev, attended a conference focused on Iran-Azerbaijan economic collaboration, and met with Iranian expatriates residing in the neighboring country