SAEDNEWS: Deputy Prime Minister of Azerbaijan Shahin Mustafayev says that there are no more banking restrictions between his country and the Islamic Republic of Iran.
Shahin Mustafayev, Deputy Prime Minister of Azerbaijan, highlighted the growing momentum in Iran-Azerbaijan relations during the Joint Economic Cooperation Commission meeting on Monday. Praising Tehran for hosting the Azerbaijani delegation, he described the wide-ranging agenda as a key driver for deepening economic and cultural ties between the neighboring nations.
Referring to agreements reached in January last year, Mustafayev noted remarkable progress, including multiple high-level visits that reinforced mutual friendship. He emphasized that the foundation of bilateral relations rests on strong cultural and historical bonds, with President Ilham Aliyev valuing good-neighborly ties with Iran.
The Deputy PM described President Masoud Pezeshkian’s recent visit to Baku as “highly successful”, resulting in key achievements:
Launch of direct flights between Tehran-Baku and Tabriz-Baku, with both countries’ airlines now operating these routes.
Removal of banking restrictions to facilitate trade.
Organization of cultural events in Tehran, Ardabil, and Urmia.
Participation of Nakhchivan representatives in Urmia’s economic activities.
Bilateral trade has already surpassed $300 million in the first half of 2025, with new agreements expected to boost this further. On transportation, Mustafayev highlighted the strategic North-South Corridor, projecting transit volumes of 5 million tons by 2028, with continued growth beyond 2030.
He also underscored major infrastructure projects, such as the Aghband-Kalaleh Bridge, road expansions, terminal upgrades, and the Astara logistics hub, all aimed at easing congestion and enhancing cargo transit.
Mustafayev’s 20-member delegation will visit Tabriz and Bandar Abbas to explore further cooperation in ports and logistics. He also revealed plans for upcoming trilateral Iran-Azerbaijan-Russia meetings in Baku, focusing on transport, energy, and other strategic areas—signaling a new era of regional collaboration and connectivity.
