Today Baku hosts the 11th meeting of the Azerbaijani-Iranian state commission on cooperation in economic, trade and humanitarian spheres. The work of the commission is attended by the Minister of Communications and Information Technology Mahmoud Vaezi.
Noting the recent work done, the Azeri Economy Minister Shahin Mustafayev said the Azerbaijani side did much work for the construction of a railway connecting the railway systems of Azerbaijan and Iran and put the power line Imishli-Parsabad into operation. He noted the construction of a joint car factory in the industrial district of Neftchala, and a pharmaceutical factory in the Pirallahi industrial park.
The Minister of Economy said that in early January, a delegation of Azerbaijani businessmen will visit Tabriz and Ardabil.
In Azerbaijan there are about 400 companies with Iranian capital that have invested $ 2.5 billion in the economy. During the first 11 months of this year the trade turnover between Azerbaijan and Iran grew by 60%.
The government delegation was accompanied by 130 businessmen from Iran. During the meeting of the State Commission a business forum was held. –08B--
Economics
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In recent days, there have been claims that bread prices in Azerbaijan have risen. Social media users report that the price of bread has increased by 5-10 qepiks. According to consumer complaints, it is difficult to find weight information on factory-produced bread, commonly known as "zavod çörəyi" in Azerbaijan. In many cases, bread packaging does not include weight details. Similarly, bread sold at smaller bakeries and tandir houses often lacks information apart from the price.
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A trilateral meeting of the foreign ministers, transport ministers, energy ministers, and heads of customs services of Russia, Iran, and Azerbaijan is set to take place soon to discuss the progress of the Rasht-Astara railway project, a key element of the International North-South Transport Corridor (INSTC). This was announced by Iran’s Ambassador to Russia, Kazem Jalali.
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Azerbaijan and Tatarstan continue to strengthen trade and economic cooperation, based on mutual interests in energy, mechanical engineering, petrochemicals, agriculture, and transport. Bilateral relations have shown steady growth, supported by regular visits of official delegations and participation in international economic forums.
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Azerbaijan’s state-owned energy company, SOCAR, is deepening its engagement in international gas projects as it seeks to diversify supply routes to Europe. In January 2025, the company acquired a 10% stake in Israel’s Tamar gas field, which holds an estimated 300 billion cubic meters (bcm) of natural gas. The field, located near the giant Leviathan deposit, is seen as a key source for expanding gas exports from the eastern Mediterranean.
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