BAKU, Azerbaijan, November 3. The establishment of a joint free trade zone between Iran and Azerbaijan could enhance exchanges in the fields of economy, technology, agriculture, industry, and logistics, said Hadi Moghaddamzadeh, head of the Aras Free Zone (AFZ) in northwest Iran, Trend reports.
Speaking during a meeting with Iran’s Ambassador to Azerbaijan, Mojtaba Demirchilu, held to discuss ways to develop economic, trade, and investment cooperation between the two countries, Moghaddamzadeh noted that the Aras Free Zone is strategically located at the intersection of major international corridors such as the International North–South Transport Corridor (INSTC) and the Silk Road.
"This zone has the potential to become an important center for economic development in Iran and the Caucasus, as well as for expanding industrial, agricultural, and economic exchanges between Iran and Azerbaijan," he said.
He added that numerous industrial enterprises operate in the AFZ with investments from Azerbaijani and Turkish citizens. The zone fully supports investors from friendly and brotherly countries and invites all local and foreign investors to take advantage of the opportunities offered by the zone, Moghaddamzadeh emphasized.
During the meeting, Ambassador Demirchilu expressed satisfaction with the development process of the AFZ and described it as one of the key centers for enhancing bilateral economic cooperation. He further stated that combining the logistics and industrial potential of the AFZ with Azerbaijani markets could play a significant role in increasing trade turnover between the two countries.
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