BAKU, Azerbaijan, April 30. The establishment of border markets at the borders of the East Azerbaijan Province in northwestern Iran and Azerbaijan is of great importance, the province's governor, Bahram Sarmast, told Trend.
According to him, border markets can attract the attention of various investors. Thus, both Iranian investors operating in Azerbaijan and Azerbaijani investors can contribute to the development of economic and trade relations between the two countries, especially in the border provinces.
Sarmast mentioned that with the potential of many sectors in East Azerbaijan Province, the relations between Iran and Azerbaijan can be advanced to a higher level. This can also contribute to improving the welfare of the population in the border regions. The development of tourism and joint investment in the mentioned province can be among the issues to focus on.
“Given the significant potential of East Azerbaijan Province in the industrial sector, efforts could be made towards joint ventures in industrial parks. In this direction, investors from both countries can be more active.
The operation of the Aras Free Trade Zone in East Azerbaijan Province can create many opportunities. For example, border markets between the two countries can start functioning, and joint projects can be carried out in the free trade zones,” he pointed out.
To note, Iran's Customs Administration data shows that during the last Iranian year (from March 20, 2024, through March 20, 2025), the non-oil trade turnover between Iran and Azerbaijan amounted to $712 million. The trade turnover between the two countries increased by six percent in value and 9.4 percent in weight compared to the previous year.
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