BAKU, Azerbaijan, January 21. The trade turnover between Iran and Azerbaijan increased by 20 percent in 2024 compared to 2023, Head of the International Affairs Center of the Ministry of Transport and Urban Development Amin Taraffo said at the 16th meeting of the Joint Iran-Azerbaijan Economic Commission in Tehran on 21 January, Trend reports.
According to him, the trade turnover between the two countries amounted to $480 million in 2023. The trade turnover increased to $580 million in 2024.
Taraffo noted that the two countries have extensive cooperation in the fields of transportation, freight, and infrastructure. This has further strengthened the economic ties between the two countries. Joint infrastructure and transportation projects, including the construction and commissioning of the Astara Bridge, are some examples. Currently, the construction of the Aghband bridge is in its final stage and works are underway on the "Araz corridor" to increase Azerbaijan's road and rail links with Iran.
The official stated that cargo transportation on Iran's joint borders with Azerbaijan and Nakhchivan is being organized on a large scale.
He added that various issues, including electricity, oil and gas, and banking, will be discussed at today's meeting to find a joint solution.
To note, the two-day meeting of the Iran-Azerbaijan Joint Economic Commission started in Tehran today.