Tehran, March 12 (MRUD NEWS) – Iran Minister of Transport and Urban Development, Rostam Ghasemi, travelled to Baku on Thursday, March 10, at the head of a delegation to attend the 15th Iran, Azerbaijan Joint Economic Committee concurrent with the 30th anniversary of Iran, Azerbaijan diplomatic relations.   

Increase of commercial transactions and development of cooperation between Iran and Azerbaijan is on agenda for both countries. 

A memorandum of understanding was signed during the meeting to establish a road link between Nackchivan and Azerbaijan through Iran's territory that according to the President of Azerbaijan, Ilham Aliyev, is representing bilateral friendly relations and will open up new linking routes in the region. 

According to Iran Transport Minister, there were new proposals and agreements for new transit routes. Moreover, previous agreements were followed up including construction of bridge over Astarachay River that was signed in January. 

Shahin Mustafayev, First Deputy Prime Minister of Azerbaijan, called the 15th Joint Economic Committee with its agreements and upcoming cooperation as a sign of a promising future for the two nations. He added that Azerbaijan is ready to cooperate with Iran comprehensively. 

Ambassador of Iran in Baku expressed hope over considerable expansion of economic relations following the 15th Joint Economic Committee meeting.  

There were four visits between Iranian and Azerbaijani heads of joint economic committee during last four months and according to the Azerbaijani officials there were 30 percent increase in commercial transactions and 70 percent increase in transport communications.

With new roadmap, Iran, Azerbaijan commercial transactions are expected to reach $1 billion per year. 

The 14th Iran, Azerbaijan Joint Economic Committee was held in January in 2021 in Tehran.