TEHRAN (Iran News) –Iranian Transport and Urban Development Minister Mehrdad Bazrpash travelled to Azerbaijan on Friday for a two-day trip to follow up the implementation of the enactments of the previous meeting of the two countries’ joint economic committee, visit the joint projects, and meet the senior officials of the neighboring country.

Bazrpash, who is the Iranian chairman of Iran-Azerbaijan Joint Economic Committee, was welcomed by Shahin Mustafayev, the deputy prime minister of Azerbaijan, who is the Azeri chairman of the joint committee, after arriving in Zangilan International Airport on Friday, the portal of Iran’s Ministry of Transport and Urban Development reported.

The concrete-pouring operation for the construction of Aghband bridge was started in the presence of Bazrpash and Mustafayev, at the border zero point of the two countries on Friday, so that this joint border bridge will be built on the Aras River and be a passage between Iran, Nakhchivan and the Republic of Azerbaijan.

Iran and Azerbaijan launched the construction of the Aghband automobile bridge over the Aras River, in a ceremony in September 2022.

Mustafayev and former Iranian Transport and Urban Development Minister Rostam Qasemi watched the ceremony via video conference.

Officials from Azerbaijan and Iran expressed their confidence that the new bridge would serve to strengthen friendly relations between the two countries, further develop transportation routes, and increase the transit potential of the region.

The project is expected to create additional opportunities for the countries of the region, increase the potential of the East-West transport corridor, as well as expand transport and economic ties in the region.

In mid-July, the chairmen of the Joint Economic Committee of Iran and Azerbaijan met at the border city of Astara in northern Iran to discuss the expansion of ties in various areas including trade and transit.

During the meeting, Bazrpash and Mustafayev reached several agreements including a decision to increase transit traffic and launching a new border terminal over the next four months, as well as deciding to launch border markets and increase joint investment in the construction of a railway port.

The officials also decided to investigate the problems of truckers in a joint committee between the two countries to take the necessary actions to fix them over the next two months.

Speaking at the meeting, Bazrpash emphasized the development of economic relations between the two countries and underlined the need for the greater use of the existing capacities.

“With better use of existing capacities, unique opportunities can be provided for the development of economic relations between the two countries.” the minister said.

Referring to the 800-km common border between Iran and Azerbaijan, he added: “Iranian president always emphasizes the development of relations through the optimal use of the capacities between the two countries.”

Mustafayev, said for his part that the volume of international transit between his country and Iran has grown by 58 percent.

He said that about 2,452 Iranian companies have been registered in Azerbaijan, a large part of which are currently active.

The official also noted that the volume of transit via the International North-South Transit Corridor (INSTC) has also registered a 69 percent growth.

Stressing his country’s determination to expand economic ties with Iran, Mustafayev said trade exchanges between Iran and Azerbaijan increased by 30 percent in 2022, adding that bilateral exchanges between the two countries have also registered a nine percent year-on-year increase in the first five months of 2023.

He stressed that transportation is of vital significance in relations between the two neighboring countries.

Based on the data released by the Islamic Republic of Iran Customs Administration (IRICA), the value of trade between Iran and Azerbaijan increased by 13 percent in the past Iranian calendar year 1401 (ended on March 20).

Iran-Azerbaijan trade was $688 million in 14001, and $608 million in 1400.

Components and parts, tubes, aluminum, packaged butter, potatoes, heaters, non-electric appliances, non-powder polyethylene compound, special polyethylene compound wire and cable cover, polyethylene film grade with specific weight, and iron and steel ingots were Iran’s main exported items to Azerbaijan.

Milling machines, car gearboxes, gas generators for the simultaneous production of electricity and heat, lathes, air-generating units, presses for the production of chipboards, bending machines (presses), pipes, car engine control units, and sets of generators with compression piston engines were Iran’s major imported products from its neighbor in the past year.

MA

Photo: Iranian Transport and Urban Development Minister Mehrdad Bazrpash (L), and Azerbaijan Deputy Prime Minister Shahin Mustafayev (R) watch the concrete-pouring operation for the construction of Aghband bridge on Friday